SiriusXM sees subs gains
January 30, 2025

US pay-radio broadcaster, SiriusXM, added approximately 149,000 self-pay subscribers in Q4 2024, up 18,000 compared to the year-ago period. For full year 2024, self-pay subscribers decreased by 296,000, an improvement over the full-year decrease of 445,000 in 2023. The company ended 2024 with approximately 33 million total subscribers – most come through in car inclusion deals.
Subscribers to the Pandora Plus and Pandora Premium services decreased by 101,000 to end the year at 5.8 million. The company attributed the decline to trial starts and lower retention due to price increases on certain self-pay plans.
Advertising revenue within the Pandora and Off-Platform segment reached $1.6 billion (€1.53bn) in 2024, a $17 million year-over-year increase, which the company attributed to a growth in podcasting and programmatic sales.
“Podcasting has seen a significant rise in listening and strong financial performance in 2024 for the full year, with revenue growing 12 percent year over year,” said chief financial officer Tom Barry.
The company reported net income of $287 million, up from $228 million in the year-earlier period. Revenue declined to $8.7 billion, down 3 percent from the same period in 2023.
The company said it was targeting $200 million in cost savings through 2025 and said it planned to focus on “core revenue-generating segments,” namely its in-car subscribers.
The company reiterated its 2025 guidance of $8.5 billion in revenue, adjusted EBITDA of approximately $2.6 billion and free cash flow of approximately $1.15 billion.