NEW YORK, Jan. 5, 2017 /PRNewswire/ -- SiriusXM today
announced that it ended 2016 with over 31.3 million subscribers,
adding more than 1.7 million net subscriber additions in the year,
exceeding the company's increased guidance of 1.7 million net
subscriber additions. Self-pay net subscriber additions in 2016
were 1.66 million, exceeding the company's increased guidance of
1.6 million and resulting in self-pay subscriptions of
approximately 26 million at year end.
The company also announced that it expects to meet or exceed its
2016 guidance for revenue, adjusted EBITDA and free cash flow.
"SiriusXM had an incredible 2016. In addition to topping 31
million subscribers, our business is running efficiently and we are
attaining records in revenue, adjusted EBITDA, adjusted EBITDA
margin, and free cash flow. Our relationships with our OEMs have
never been stronger and demand for our product continues to grow,"
said Jim Meyer, SiriusXM's Chief
Executive Officer.
"We continue to make substantial investments in new products,
content and technologies, including investments in new satellites,
our next-generation 360L platform, wideband chipsets, and new
marketing capabilities. In 2017, we expect to continue our
never-ending focus on bringing our customers the best content
bundle available, and our strong record of delivering
cost-effective growth and returning substantial capital to
stockholders through stock buybacks and our recently-introduced
dividend," added Meyer.
The company also issued 2017 guidance for self-pay net
subscriber additions, revenue, adjusted EBITDA and free cash
flow:
- Self-pay net subscriber additions of approximately 1.3
million,
- Revenue of approximately $5.3
billion,
- Adjusted EBITDA of approximately $2.025
billion, and
- Free cash flow of approximately $1.5
billion.
SiriusXM expects to announce its complete results for the fourth
quarter and full year 2016 in early February
2017.
About SiriusXM
Sirius XM Holdings Inc. (NASDAQ: SIRI) is the world's largest
radio company measured by revenue and has approximately 31 million
subscribers. SiriusXM creates and offers commercial-free music;
premier sports talk and live events; comedy; news; exclusive talk
and entertainment, and a wide-range of Latin music, sports and talk
programming. SiriusXM is available in vehicles from every major car
company in the U.S. and on smartphones and other connected devices
as well as online at siriusxm.com. SiriusXM radios and accessories
are available from retailers nationwide and online at SiriusXM.
SiriusXM also provides premium traffic, weather, data and
information services for subscribers through SiriusXM Traffic™,
SiriusXM Travel Link, NavTraffic®, NavWeather™. SiriusXM delivers
weather, data and information services to aircraft and boats
through SiriusXM Aviation, SiriusXM Marine™, Sirius Marine Weather, XMWX Aviation™, XMWX
Weather, and XMWX Marine™. In addition, SiriusXM Music for Business
provides commercial-free music to a variety of businesses. SiriusXM
holds a minority interest in SiriusXM Canada which has
approximately 2.8 million subscribers. SiriusXM is also a leading
provider of connected vehicles services to major automakers, giving
customers access to a suite of safety, security, and convenience
services including automatic crash notification, stolen vehicle
recovery assistance, enhanced roadside assistance and turn-by-turn
navigation.
To download SiriusXM logos and artwork, visit
http://www.siriusxm.com/LogosAndPhotos.
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 and the timing of events may
differ materially from the results anticipated in these
forward-looking statements. SiriusXM does not provide a non-GAAP
reconciliation for Adjusted EBITDA guidance to Net income or Free
cash flow guidance to Net cash provided by operating activities
because it does not provide guidance for the reconciling items
between adjusted EBITDA to Net income, which includes the provision
for income taxes, interest expense and other income, nor does the
Company provide guidance for the reconciling items between Free
cash flow to Net cash provided by operating activities, which
includes additions to property and equipment. As items that
impact Net income and Net cash provided by operating activities are
out of the Company's control and/or cannot be reasonably predicted,
the Company is unable to provide such guidance as the most directly
comparable GAAP financial measures may vary materially from the
corresponding GAAP financial measures. Accordingly, a
reconciliation to Net income and Net cash provided by operating
activities is not available without unreasonable effort.
The following factors, among others, could cause actual
results and the timing of events to differ materially from the
anticipated results or other expectations expressed in the
forward-looking statements: our substantial competition, which is
likely to increase over time; our ability to attract and retain
subscribers, which is uncertain; consumer protection laws and their
enforcement; the unfavorable outcome of pending or future
litigation; the market for music rights, which is changing and
subject to uncertainties; our dependence upon the auto industry;
general economic conditions; the security of the personal
information about our customers; existing or future government laws
and regulations could harm our business; failure of our satellites
would significantly damage our business; the interruption or
failure of our information technology and communications systems;
our failure to realize benefits of acquisitions or other strategic
initiatives; rapid technological and industry changes; failure of
third parties to perform; harmful interference to our service from
new and existing wireless operations; our failure to comply with
FCC requirements; modifications to our business plan; our
indebtedness; our principal stockholder has significant influence
over our affairs and over actions requiring stockholder approval
and its interests may differ from interests of other holders of our
common stock; and impairment of our business by third-party
intellectual property rights. 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,
2015, 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.
Source: SiriusXM
Investor Relations contact:
Hooper Stevens
212-901-6718
hooper.stevens@siriusxm.com
Chris Leal
212-584-5236
Chris.leal@siriusxm.com
Media contact:
Patrick Reilly
212-901-6646
patrick.reilly@siriusxm.com
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SOURCE Sirius XM Holdings Inc.