North American pay-radio operator SiriusXM has reported $2.14 billion (€1.8bn) in Q2 revenue; a 2 per cent decrease compared to the same period in 2024. Net income for the quarter was $205 million. Subscribers grew by 68,000 (net) and a year-on-year improvement of 32,000. Total subscribers are about 33 million.

“Our renewed strategic focus continued to deliver this quarter,” said SiriusXM CEO Jennifer Witz. “We achieved meaningful year-over-year subscriber improvements, signed exciting new content agreements, accelerated momentum in podcasting, and unlocked significant cost efficiencies.”

Total subscriber revenue for the second quarter of $1.62 billion, total advertising revenue of $432 million. Equipment and other revenue of $77 million.

“We’re seeing deeper engagement from our most loyal listeners, early traction from sustained strength across key performance metrics and operational improvements,” Witz added. “We’re becoming a more focused, more flexible company – centered on delivering real and increasing value to our listeners and driving long-term growth for our business.”

That focus is very much on saving cash. Sales and marketing decreased by 20 percent to $173 million (in the half year to June 30), benefiting from a more efficient campaign mix and the timing of planned brand and in-car initiatives. Product and technology costs fell by 20 percent to $48 million, driven by ongoing optimisation of vendor contracts and cloud infrastructure.

Its Pandora streaming service also suffered a decline, of 3 per cent. Pandora’s total revenue for the second quarter of 2025 was $524 million, a 3 per cent decrease from Q2 2024, which was primarily due to a 6 per cent reduction in subscriber revenue to $130 million, resulting from a smaller average subscriber base, and a 2 per cent decline in advertising revenue to $394 million.

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