Audio entertainment giant SiriusXM, the home of Howard Stern, said on Tuesday it added 55,000 paid subscribers to its satellite radio unit in the fourth quarter, compared to 407,000 additions recorded during the same period in 2020.
It also lost 286,000 paid promotional subscribers, compared to a loss of 128,000 in the fourth quarter of 2020. Overall, this meant SiriusXM’s under-decrease of 231,000 in the last quarter of the year, compared to a gain of 279 000 a year ago. period.
The company, however, lost 128,000 net self-paying subscribers in its Pandora music streaming business and 2,000 paid promotional subscribers, ending 2021 with more than 6.93 million total users. By the fourth quarter of 2020, it had lost 63,000 Pandora customers.
SiriusXM, controlled by John Malone’s Liberty Media, said the total number of SiriusXM users at the end of December was 34.03 million, including 32.04 million paying customers.
Pandora’s fourth-quarter advertising revenue rose 4% to $442 million. SiriusXM’s total quarterly revenue of $2.28 billion increased 4% from the prior year period, with adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) climbing 2 % to $672 million and the company boasting a record full-year adjusted EBITDA of $2.77 billion. Net income of $318 million in the fourth quarter marked a turning point from a loss of $677 million in the same period of 2020.
“2021 has been an exceptional year on every level,” said Jennifer Witz, CEO of SiriusXM. “We added over one million new self-paying subscribers to SiriusXM for the 10th time in the past 11 years; this growth continues to be supported by a fifth consecutive year of improved churn. Once again, we have exceeded all public forecasts for 2021, and now our strong financial position allows us to declare a special cash dividend to our shareholders. »
Indeed, SiriusXM unveiled a special dividend of 25 cents per share, worth “an additional $1 billion” in return to shareholders.
“Our performance last year is a testament to our strong execution — and staying true to our vision of connecting listeners to the content they love,” Witz also said. “We’ve partnered with big-name and emerging creators across our platforms to deliver curated premium content both in and out of the car; and delivered value to our advertisers with effective solutions to reach a massive audience of over 150 million listeners.