No wonder John Malone wanted total control of pay-radio operator Sirius-XM. Its numbers continue to impress, with Q4 and full year results. Subscribers stand at 23.9 million, subscription revenues for the year grew 13 per cent to $3.4 billion and free cashflow is up 71 percent to $709 million.
For the pre-holiday period Sirius-XM activated more than 529,000 subscribers (374,000 in same period 2011) while churn also improved from 2 percent/month to 1.8 per cent during Q4.
Last month John Malone increased Liberty Media’s share position in Sirius-XM to more than 50 per cent.
Sirius-XM’s current guidance for the 2013 financial year is to win another 1.4 million net new subscribers and push gross revenues to beyond $3.7 billion, with a free cashflow target approaching $900 million.