SiriusXM Says It Beat Subscriber Guidance For 2015
January 5, 2016 at 2:54 PM (PT)
SIRIUSXM ended 2015 with 29.6 million subscribers, the company announced TODAY (1/5), claiming about 2.3 million net subscriber additions for the year. The numbers beat the previous guidance of 2 million net additions. Self-pay net subscriber additions totaled 1.77 million, also beating guidance and helping boost self-pay subscriptions to over 24 million at year end.
The company also announced that it expects to meet or beat its yearly guidance for revenue, adjusted EBITDA and free cash flow, and issued 2016 guidance for net subscriber additions of 1.4 million, revenue of $4.9 billion, adjusted EBITDA of $1.78 bullion, and free cash flow of $1.4 billion. Fourth quarter 2015 and full year results are due in the first week of FEBRUARY.
CEO JIM MEYER said, "We delivered a fantastic year in 2015, nearly doubling our original subscriber guidance and beating our other financial guidance across the board, even after raising our subscriber and financial guidance multiple times. I'm very pleased we were able to renew key content agreements during the year, especially agreements with HOWARD STERN and the NFL that extend through the end of the decade and beyond.
"We are rapidly approaching 30 million subscribers and will continue making key investments in content, new marketing capabilities, our connected vehicle business, new satellites and a next generation wideband chipset, all of which will drive the long-term growth of our dynamic business. We also expect to continue our long record of delivering cost-effective growth and returning substantial capital to stockholders via buybacks, which we anticipate will result in strong double-digit growth in free cash flow per share."