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SiriusXM Posts Record Revenue, Hits 34 Million Subscribers

NEW YORK, NY - APRIL 27: Alex Marlow at the SiriusXM Studio on April 27, 2016 in New York, New York. (Photo by Cindy Ord/Getty Images for SiriusXM)
Cindy Ord/Getty Images for SiriusXM
JOSHUA CAPLAN

SiriusXM, the home of Breitbart News Network’s radio programming, announced its fourth-quarter and full-year 2018 operating on Wednesday, posting recording earning and continued subscriber growth.

SiriusXM earned 6 cents per share, while Earnings Per Share (EPS) jumped 100% from the previous year after posting year-earlier earnings of 3 cents. The company’s net income was $251 million on 1.5 billion in revenue in the fourth quarter, topping Wall Street’s $1.48 billion estimate.

SiriusXM added 414,000 net new subscribers, now boasting a total of 34 million. The unsubscribe rate, or “church rate,” fell to 1.7%, the lowest its been in over a decade.

“SiriusXM had a strong finish to 2018, a year that saw our ninth consecutive year of 1-million-plus net subscriber adds and our lowest full-year churn rate in the past decade,” CEO Jim Meyer said in a statement. In its guidance for 2019, the company said it expects full-year revenue to hit $6.1 billion, with operating income forcasted to come in at $2.3 billion. $1.6 billion is expected in free cash flow.

Further, SiriusXM revealed the finalization of an agreement with Toyota to expand the installation of its radios to all the automaker’s models sold in the United States beginning with its 2020 model vehicles.

Meyer called the agreement “a big deal.”

“Our penetration will start to climb this fall in model year 2020 vehicles,” the chief executive said. “In addition to this fabulous news, our new agreement with Toyota now extends for a full decade, until 2028.”

“Yes, that’s right, a 10-year deal, which is really a remarkable, long-term endorsement of our service from one of the world’s largest and most influential automakers,” he continued. “With growing penetration at Toyota, we expect our overall industry penetration to exceed 80% of new vehicle volume by next year.”

The company’s shareholders voted in favor of Pandora Media Inc.’s acquisition.

“We were pleased that yesterday Pandora’s stockholders voted in favor of our proposed merger, and expect to close the transaction shortly,” Meyer said of the move.

Part of SiriusXM’s conservative Patriot channel 125, Breitbart News broadcasts four different programs:

Breitbart News Daily with host Alex Marlow on weekdays from 6:00 a.m. to 9:00 a.m. EST.

Breitbart News Tonight with co-hosts Rebecca Mansour and Joel Pollak on weekdays from 9:00 p.m. to midnight EST.

Breitbart News Saturday with host Matt Boyle from 10:00 a.m. to 1:00 p.m. EST.

Breitbart News Sunday with host Amanda House from 7 p.m. to 10 p.m. EST.

SiriusXM subscribers can hear Breitbart News programming via SiriusXM On Demand, through the SiriusXM app on smartphones and other connected devices, as well as online at www.siriusxm.com/player.

SiriusXM’s 200+ channels – including SiriusXM’s Patriot channel – are also available for streaming to SiriusXM subscribers nationwide with Amazon Alexa. Go to www.SiriusXM.com/AmazonAlexa to learn more.

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