SiriusXM Nears 30 Million Subscribers - Radio World

SiriusXM Nears 30 Million Subscribers

Company highlights 2015 performance in advance of financial statements due in a few weeks
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SiriusXM is trumpeting its year-end results, saying it ended 2015 with 29.6 million subscribers, a net growth of 2.3 million, more than it had projected.

CEO Jim Meyer stated in an announcement, “We are rapidly approaching 30 million subscribers and will continue making key investments in content, new marketing capabilities, our connected vehicle business, new satellites and a next-generation wideband chipset, all of which will drive the long-term growth of our dynamic business.”

The company plans to report financial numbers in early February but said self-pay net subscriber additions for the year were 1.77 million, also more than it had projected, “resulting in self-pay subscriptions of over 24 million at year end.”

Meyer called it a “fantastic year,” saying the company nearly doubled its original subscriber guidance and beat its other financial guidance across the board, even after raising it several times. He noted that the company recently renewed important deals with the NFL and Howard Stern.

In 2016 SiriusXM expects 1.4 million net subscriber additions and revenue of about $4.9 billion. Meyer also indicated the company will continue stock buybacks.

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