SiriusXM (SIRI) Reaches More Than 30M Subscribers In 2019
Zacks Investment Research | Jan 07, 2020 10:01PM ET
SiriusXM Holdings (NASDAQ:SIRI) added 1.063 million self-pay subscribers in 2019, to reach a user base of more than 30 million. The company had anticipated adding almost 1 million self-pay net subscribers. Moreover, the total paid subscriber base reached 34.9 million, which is a record in the company’s history.
SiriusXM also expects to meet or exceed its 2019 guidance for revenues, adjusted EBITDA and free cash flow. Notably, revenues are expected to be approximately $7.85 billion, while adjusted EBITDA to be $2.4 billion. Free cash flow is expected to be $1.625 billion.
Further, SiriusXM provided the initial 2020 guidance. The company expects to add more than 0.9 million self-pay net subscribers. Total revenues are anticipated to be $8.1 billion, while adjusted EBITDA to be $2.5 billion. Free cash flow is expected to be $1.7 billion.
Strong Content Lineup Aids Subscriber Growth
SiriusXM's focus on strengthening its content portfolio is aiding subscriber growth. Throughout 2019, the company added content from talk shows and sports, apart from music, to boost user engagement.
The company’s strategy of collaborating with artists and organizations has paid well. Partnerships with the likes of Rolling Loud, popular rock band U2, Marvel, Drake, Howard Stern and Senator Al Franken to create exclusive content for SiriusXM subscribers have been successful in attracting subscribers.
Sirius XM Holdings Inc. Revenue (TTM)
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