SiriusXM Q3 Revenue Flat
The third quarter 2023 revenue for SiriusXM was $2.27 billion, basically flat from the same period in 2022. The satellite and internet broadcaster reports net income of $363 million for the quarter. SiriusXM
noted that it lost about 96,000 self-pay subscribers during the quarter and states that its current total subscribers stands at 34 million. SiriusXM CEO Jennifer Witz says, “We are very excited to unveil SiriusXM’s next-generation platform on November 8th, a key component of our long-term vision for the company’s consumer offerings. Our content portfolio continues to differentiate us in the audio marketplace with exclusive access to live sports, talk, music and one-of-a-kind content.”
increase of 348,000 for the year, aided by a growing base of streaming-only subscribers. Net income for Q4 of 2022 was $365 million, up from the $318 million posted in Q4 of 2021. For the year, net income was $1.2 billion, down from the $1.3 billion reported in 2021. CEO Jennifer Witz says, “2022 was a strong year for SiriusXM, as we continued to focus on bringing consumers the best in audio entertainment both in-car and on the go, reaching record high revenue and record low churn. Our strong operating and financial performance in 2022 are a testament to our resilient business model and growing contribution from streaming, which helped us deliver 348,000 net new self-pay subscribers. In 2023, we expect SiriusXM to deliver strong operating performance and generate significant cash, even as we face a challenging economic environment and continue to make material investments in our technology infrastructure.”