SiriusXM Ends 2016 With More Than 31 Million Subscribers
CEO Jim Meyer says the satellite radio firm, controlled by John Malone's Liberty Media, had an "incredible" year.
Satellite radio giant SiriusXM said Thursday that it ended 2016 with more than 31.3 million subscribers.
The company, controlled by John Malone's Liberty Media and home of Howard Stern, added more than 1.7 million net subscriber additions in the year, exceeding its increased guidance of 1.7 million additions.
The company also said that it expects to meet or exceed its 2016 guidance for revenue, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), as well as free cash flow when it reports its full financials next month.
"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," said Jim Meyer, SiriusXM's chief executive officer.
The company also issued 2017 forecasts, including self-pay net subscriber additions of approximately 1.3 million and revenue of approximately $5.3 billion.