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SiriusXM Reports Q4 Net Revenues Rise 38% to $2.1 Billion


SiriusXM
SiriusXM

SiriusXM reported fourth quarter revenue grew 38% to $2.1 billion from $1.5 billion in 2018. Revenue was boosted by the acquisition of Pandora Media on February 1, 2019. On a pro forma basis, Q4 revenue grew 6% from $1.9 billion, while Adjusted EBITDA totaled $587 million, down from $593 million. The company posted a 3% decline in net income to $243 million (5 cents per diluted share) as compared with $232 million (6 cents) in the year-ago period.

"I am so proud of SiriusXM's milestone performance last year. Not only did we achieve our 10th consecutive year of one million-plus self-pay net additions, but we successfully completed the acquisition of Pandora Media and drove each business to record-high financial performance. Looking forward to 2020, we're excited about a new decade of opportunity before us and confident in reiterating our guidance for the year," said SiriusXM CEO Jim Meyer.

"In programming, our lifeblood, we continue to work with an increasing array of megastars and brands that have real value for SiriusXM subscribers and Pandora listeners. In the lead-up to the Super Bowl, The Chainsmokers and Lizzo played separate exclusive concerts on back-to-back nights in Miami Beach as part of our new Opening Drive Super Concert Series. Coldplay did a special stripped-down set at our new Hollywood studios for subscribers, and we announced the launch of a new SiriusXM channel and exclusive Pandora content from superstars U2, called U2X Radio, which will debut this year," added Meyer.

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