SiriusXM Soars: Revenue Up 6 Percent as Facebook Plummets

SiriusXM microphone
Getty/Robin Marchant

Satellite radio network SiriusXM, host network to 38 hours of original Breitbart News content each week, announced an increase in revenue of 6 percent in the second quarter of 2018.

“SiriusXM’s strong start to 2018 accelerated in the second quarter. We added 483,000 net new self-pay subscribers in the quarter with an impressive 1.6% self-pay churn rate, our best-ever performance. Our 6% growth in revenue would have been 8% absent the change in generally accepted accounting principles that was effective January 1st, and we are thrilled to increase our full-year guidance for self-pay net additions, revenue and adjusted EBITDA,” said Jim Meyer, SiriusXM’s CEO.

The radio company’s strong results were announced on the same day that Facebook shares plummeted, following news that the social media giant has underperformed in adding news users and increasing revenue.

Although SiriusXM is a satellite radio network and Facebook is a social media company, they have one thing in common: the left has urged both companies to censor or downrank conservative news. Facebook has been subject to over a year of pressure from the media and establishment over “fake news” and “misinformation”, with many critics of the social media company making it plain that they mean alternative and right-wing news sites.

SiriusXM, meanwhile, faced criticism and boycotts over its decision to host conservative radio shows. Nevertheless, it continues to host a wide range of conservative content, including 38 hours of original Breitbart News content every week.

Facebook, by contrast, buckled under the pressure, adjusting its newsfeed algorithm in a manner that reduced the reach of President Trump’s Facebook page by over 40 percent, and undercutting the reach of conservative and alternative media, while pledging to fund original content from discredited legacy media outlets like CNN. The social media platform recently admitted that it reduced the reach of content it considers “fake news” by up to 80 percent.

Allum Bokhari is the senior technology correspondent at Breitbart News. You can follow him on TwitterGab.ai and add him on Facebook. Email tips and suggestions to allumbokhari@protonmail.com.

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