Siriusxm adds 149,000 subscribers, seeing increased podcasting revenue

Siriusxm added approximately 149,000 self -paying subscribers in the fourth quarter of 2024, an increase of 18,000 compared to the previous year.

Throughout the year 2024, self -paying subscribers fell by 296,000, an improvement over the fall of the year of 445,000 self -paying subscribers in 2023. The company ended 2024 by approx. 33 million total subscribers.

Subscribers to Pandora Plus and Pandora Premium Services fell by 101,000 to end the year of 5.8 million. The company attributed the fall to the trial start and lower retention due to price increases on certain self -payment plans.

Advertising revenue in Pandora and the Off-Platform segment reached $ 1.6 billion in 2024, an increase of $ 17 million over years over years that the company attributed a growth in podcasting and programmatic sales.

“Podcasting has seen a significant increase in listening and strong financial performance in 2024 for the whole year, with revenue growing 12 percent years over year,” said CFO Tom Barry.

The company reported a net income of $ 287 million, up from $ 228 million in the period. Revenue fell to $ 8.7 billion, down 3 percent from the same period in 2023.

In December, the company said it was targeted at $ 200 million in cost savings as it leaves 2025 and said it was planning to move marketing and other resources away from “high cost groups,” namely its subscribers in the car.

“While we expect some of these changes to have a one -time impact on our subscriber results, especially in the first half of this year, we believe that these actions will allow us to improve customer satisfaction, maintain our strong cash generation and support continued long -lasting Health in the company, ”said CEO Jennifer Witz about the earnings peel. “Apart from these shifts, we would expect our subscriber to result in 2025 being a little better than what we saw in 2024.”

The company repeated its 2025 guide to $ 8.5 billion in revenue, adjusted EBITDA of approx. 2.6 billion dollars and free cash flow of approx. 1.15 billion dollars.

“At the end of 2024, we took significant steps to focus on Siriusxm’s core forces and improve operational efficiency,” Witz said. “By prioritizing our core subscription business, utilizing our streaming features and growing our management within ad supported sound, we are well placed to deliver long-term value. As we look ahead, we get the energy of the possibilities of building on this strategy and continue to offer unmatched sound experiences through our platforms. ”

“I am proud of the progress we made in 2024 to sharpen our strategy and strengthen our financial foundation,” Barry said. “We met our 2024 guidance goals, including adjusted EBITDA of approx. $ 2.73 billion with a solid margin of 31 percent, making strategic investments supported by disciplined cost management. By 2025, we are focused on generating $ 1.15 billion in free cash flow and achieving an additional $ 200 million in ongoing savings leaving the year, enabling us to continue investing in the business and returning capital to shareholders, while We reduce leverage. Our focus will remain on operational efficiency and ROI-driven decisions to ensure value creation in the future. “