SiriusXM Q2 revenues flat
August 3, 2023
By Chris Forrester
US pay-radio operator SiriusXM, owned by Liberty Media, generated $2.25 billion (€2.06bn) for the quarter-year which ended on June 30th. This was the same as revenues a year ago. Subscriber numbers were level at 34 million.
However, SiriusXM’s Pandora streaming service lost subscribers and fell to 47.4 million, down from 50.5 million a year ago.
Actual subscriber statistics show that 132,000 of its ‘self-pay’ subs were cancelled, although this loss was better than the 348,000 which cancelled during Q1.
At the end of June, SiriusXM’s self-pay subscriber base stood at 31.9 million, with its total users reaching just over 34 million.
Sirius XM CEO Jennifer Witz said the company was “cautiously optimistic” that it would see year-on-year improvement in advertising revenues in H2. Ad-revenues in Q2 fell back slightly from $452 million last year to $445 million during Q2.
Drilling down into the numbers shows that its quarterly net income was up 6 per cent y-o-y at $310 million.