NEW YORK, Sept. 9, 2014 /PRNewswire/ -- SiriusXM today
raised its 2014 guidance for net subscriber additions to
approximately 1.45 million, an increase from previous guidance of
approximately 1.25 million.
"SiriusXM's subscriber growth is tracking ahead of our prior
expectations. The company is executing extremely well, and
with this summer's strong new car sales, we now expect to
comfortably exceed our previous subscriber target," said
Jim Meyer, CEO, SiriusXM.
The company continues to expect net self-pay subscriber
additions of approximately 1.25 million in 2014.
SiriusXM also reaffirmed its recently increased 2014 financial
guidance:
- Revenue of approximately $4.1
billion,
- Adjusted EBITDA of approximately $1.425
billion, and
- Free cash flow of approximately $1.1
billion.
About SiriusXM
Sirius XM Holdings Inc. (NASDAQ: SIRI)
is the world's largest radio broadcaster measured by revenue and
has more than 26.3 million subscribers. SiriusXM creates and
broadcasts commercial-free music; premier sports talk and live
events; comedy; news; exclusive talk and entertainment; and the
most comprehensive Latin music, sports and talk programming in
radio. SiriusXM is available in vehicles from every major car
company in the U.S. and from retailers nationwide as well as at
shop.siriusxm.com. SiriusXM programming is available through the
SiriusXM Internet Radio App for smartphones and other connected
devices as well as online at siriusxm.com. SiriusXM also provides
premium traffic, weather, data and information services for
subscribers in cars, trucks, RVs, boats and aircraft through
SiriusXM Traffic™, SiriusXM Travel Link, NavTraffic®, NavWeather™,
SiriusXM Aviation, SiriusXM Marine™, Sirius
Marine Weather, XMWX Aviation™, and XMWX Marine™.
SiriusXM holds a minority interest in SiriusXM Canada which has
more than 2 million subscribers.
On social media, join the SiriusXM community on Facebook,
Twitter, Instagram, and YouTube.
This communication contains "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such statements include, but are not limited to,
statements about future financial and operating results, our plans,
objectives, expectations and intentions with respect to future
operations, products and services; and other statements identified
by words such as "will likely result," "are expected to," "will
continue," "is anticipated," "estimated," "believe," "intend,"
"plan," "projection," "outlook" or words of similar meaning.
Such forward-looking statements are based upon the current beliefs
and expectations of our management and are inherently subject to
significant business, economic and competitive uncertainties and
contingencies, many of which are difficult to predict and generally
beyond our control. Actual results may differ materially from
the results anticipated in these forward-looking
statements.
The following factors, among others, could cause actual
results to differ materially from the anticipated results or other
expectations expressed in the forward-looking statements: our
competitive position versus other radio and audio entertainment
providers; our ability to attract and retain subscribers, which is
uncertain; our dependence upon the auto industry; general economic
conditions; failure of our satellites, which, in most cases, are
not insured; the interruption or failure of our information and
communications systems; the security of the personal information
about our customers; royalties we pay for music rights, which
increase over time; the unfavorable outcome of pending or future
litigation; our failure to realize benefits of acquisitions; rapid
technological and industry change; failure of third parties to
perform; changes in consumer protection laws and their enforcement;
failure to comply with FCC requirements and other government
regulations; and our indebtedness. Additional factors that
could cause our results to differ materially from those described
in the forward-looking statements can be found in our Annual Report
on Form 10-K for the year ended December 31,
2013, which is filed with the Securities and Exchange
Commission (the "SEC") and available at the SEC's Internet site
(http://www.sec.gov). The information set forth
herein speaks only as of the date hereof, and we disclaim any
intention or obligation to update any forward looking statements as
a result of developments occurring after the date of this
communication.
E - SIRI
Contact Information for Investors and Financial Media:
Investors:
Hooper Stevens
212 901 6718
hooper.stevens@siriusxm.com
Media:
Patrick Reilly
212 901 6646
patrick.reilly@siriusxm.com
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SOURCE Sirius XM Holdings Inc.