SiriusXM Exceeds 2020 Guidance for Subscribers
|RADIO ONLINE | Thursday, January 7, 2021|
SiriusXM added 909,000 net self-pay subscribers to finish 2020 with 30.9 million self-pay subscribers, exceeding the company's most recent 2020 subscriber guidance. The company also announced that it expects to meet or exceed its most recent 2020 guidance for revenue, adjusted EBITDA and free cash flow. The company issued 2021 subscriber and financial guidance, including:
- SiriusXM self-pay net subscriber additions of approximately 800,000
- Total revenue of approximately $8.35 billion
- Adjusted EBITDA of approximately $2.575 billion
- Free cash flow of approximately $1.6 billion
"I'm pleased to have assumed the role as SiriusXM's CEO this month and even more pleased with the results we posted for 2020, which provide us strong momentum as we chart the course for the year ahead. These results highlight the resiliency of our business and the loyalty of our customer base even amid the unprecedented challenges of the past year. Most of all, I'm proud of our dedicated employees for navigating the challenges of remote work, staying healthy, and taking care of their families while never losing sight of our business goals," said SiriusXM's Chief Executive Officer Jennifer Witz.
"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.
SiriusXM plans to release full-year and fourth quarter 2020 operating results on Tuesday, February 2.
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