SiriusXM Adds 2 Million Net Subscribers In 2012; Issues 2013 Guidance
January 9, 2013 at 8:36 AM (PT)
SIRIUSXM RADIO has ended the year with 23.9 million subscribers, reporting 2 million net subscriber additions in 2012. The company also announced that it expects to meet or exceed all of its 2012 financial guidance.
SIRIUS XM also issued new subscriber and financial guidance for 2013:
* Revenue of over $3.7 billion,
* Adjusted EBITDA of over $1.1 billion,
* Free cash flow approaching $900 million,
* Self-pay net subscriber additions of approximately 1.6 million, and
* Total net subscriber additions of approximately 1.4 million.
"SIRIUS XM set a post-merger record of 2 million net additions in 2012, and we expect to report financial and operating results that meet or exceed all of the guidance we provided for 2012. Net self-pay subscriber additions in 2012 increased over 30% to more than 1.6 million, turning in our best performance since 2008," said CEO JIM MEYER. "Our unparalleled programming and product innovations, such as On Demand programming and the soon to be launched customization feature, will allow us to continue our strong record of growth driving our subscriber base to exceed 25 million in 2013. With our laser like focus on cost efficient growth and customer service, we will continue to achieve double digit growth in adjusted EBITDA and free cash flow allowing us to return substantial capital to stockholders through our $2 billion stock buyback program."