SiriusXM beats 2020 guidance
January 12, 2021
By Chris Forrester
Pay-radio company SiriusXM told the NASDAQ exchange that it added 909,000 new subscribers to taking the operator’s total self-pay numbers to 30.9 million “and beating its most recent guidance”.
Moreover, SiriusXM says it expects to meet or exceed its overall 2020 guidance for revenues and cash-flow.
As far as 2021 is concerned SiriusXM says it now expects self-pay net adds of about 800,000 for the year, along with total revenue of $8.35 billion, EBITDA of $2.575 billion, and free cash flow of about $1.6 billion.
“These results highlight the resiliency of our business and the loyalty of our customer base even amid the unprecedented challenges of the past year,” says new CEO Jennifer Witz.
SiriusXM will issue its Q4 numbers (to Dec 31st) on February 2nd.
“Last year, we made a number of strategic moves that position SiriusXM for its next phase of growth. We completed our acquisitions of Stitcher and Simplecast and our investment in Soundcloud, debuted exclusive content across SiriusXM and Pandora from Marvel Entertainment and others, and extended agreements with General Motors, BMW and Kia. As we announced in December, I’m thrilled that Howard Stern extended his live broadcast agreement with SiriusXM for the next five years and for his archives well beyond that. By continuing our focus on premium content, enhancing our in-car product with 360L, and expanding our reach to more people at home and on-the-go with both subscription and advertising products, I am confident that SiriusXM has a long runway of growth ahead of us in 2021 and beyond,” added Witz.
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