Sirius-XM: Pay-radio breaks all records

siriusradioUS-based pay-radio broadcaster Sirius-XM has reported record revenue and subscriber numbers. CEO James Meyer told analysts that 2014 provided excellent performance on all fronts.

“In 2014, we originally projected that we will grow our subscriber base by 1.25 million, but we actually delivered growth of 1.75 million net new subscribers in 2014, ending the year with 27.3 million paying subs, making us one of the largest subscription media companies in the world. We added over 0.5 million in the fourth quarter alone, which incidentally marked the biggest Q4 we have ever recorded since 2007,” said Meyer.

Sirius-XM’s revenues grew 10 per cent to almost $4.2 billion in 2014, and EBITDA grew 26 per cent to almost $1.5 billion. “Once again we have beaten all of the guidance we gave you for 2014,” added Meyer.

The broadcaster said that new and used car sales reached record levels in the US last year which helped propel subscriptions. “The year is early and we have 11 months to go, but we are off to a good start,” said Meyer.

As to the future Meyer said “We have major efforts that are now well-underway to avail ourselves of the enhanced capabilities of connected vehicles to supplement our satellite network. And this work will be the next step in solidifying our competitive advantages. The joining of our IP and satellite technologies will let us offer more features to subscribers and will help us better understand and manage our customer relationship with them.”

You must be logged in to post a comment Login