NEW YORK, Jan. 7, 2020 /PRNewswire/ -- SiriusXM
today announced it added 1.063 million net self-pay subscribers to
finish 2019 with approximately 30 million self-pay subscribers,
exceeding the company's initial 2019 subscriber guidance. The
company also announced that it expects to meet or exceed its 2019
guidance for revenue, adjusted EBITDA and free cash flow.
The company also issued 2020 subscriber and financial guidance,
including:
- SiriusXM self-pay net subscriber additions over 900
thousand,
- Total revenue of approximately $8.1
billion,
- Adjusted EBITDA of approximately $2.5
billion, and
- Free cash flow approaching $1.7
billion.
"Last year was a milestone for SiriusXM. Not only did we achieve
our tenth consecutive year of million-plus self-pay net additions,
but we also completed our acquisition of Pandora Media and made
significant investments in our business, all while returning more
than $2 billion to our stockholders.
And our new 2020 guidance points to what should be another
excellent year of growth for SiriusXM," said Jim Meyer, SiriusXM's Chief Executive
Officer.
"We're thrilled to start our year once again at the Consumer
Electronics Show with so many new product and service launches to
highlight. GM recently announced a broad rollout of our next-gen
360L hybrid satellite-IP architecture. GM anticipates it will
produce about one million 360L-enabled vehicles this year. We
recently announced a new creative collaboration with U2 to create
an exclusive U2X RADIO Channel for SiriusXM and exclusive content
for Pandora listeners. And we look forward this year to debuting
exclusive content across SiriusXM and Pandora from Marvel and
platinum selling recording artist Drake," added Meyer.
SiriusXM also announced today that it plans to release full-year
and fourth quarter 2019 financial and operating results on
Tuesday, February 4, 2020. The
company will hold a conference call at 8:00
am ET the same day to discuss these results. Investors and
the press can listen to the conference call via the company's
website at investor.siriusxm.com.
About SiriusXM
Sirius XM Holdings Inc. (NASDAQ: SIRI) is the leading audio
entertainment company in the U.S., and the premier programmer and
platform for subscription and digital advertising-supported audio
products. Pandora, a subsidiary of SiriusXM, is the largest
ad-supported audio entertainment streaming service in the U.S.
SiriusXM and Pandora together reach more than 100 million people
each month with their audio products. SiriusXM, through Sirius XM
Canada Holdings, Inc., also offers satellite radio and audio
entertainment in Canada. In
addition to its audio entertainment businesses, SiriusXM offers
connected vehicle services to automakers and directly to consumers
through aftermarket devices. For more about SiriusXM, please go to:
www.siriusxm.com.
FORWARD-LOOKING STATEMENTS
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.
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 or increase
the number of subscribers, which is uncertain; our ability to
profitably attract and retain more price-sensitive consumers;
failure to protect the security of personal information about our
customers; interference to our service from wireless operations; a
decline in the effectiveness of our extensive marketing efforts;
consumer protection laws and their enforcement; our failure to
realize benefits of acquisitions or other strategic initiatives,
including the acquisition of Pandora Media, Inc.; unfavorable
outcomes 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;
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; rapid technological and industry
changes; failure of third parties to perform; our failure to comply
with FCC requirements; modifications to our business plan; our
indebtedness; damage to our studios, networks or other three
facilities as a result of terrorism or natural catastrophes; 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;
impairment of our business by third-party intellectual property
rights; and changes to our dividend policies which could occur at
any time. 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, 2018 and our Quarterly
Report on Form 10-Q for the quarter ended March 31, 2019, in each case, as 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
Contacts for SiriusXM:
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.