NEW YORK — SiriusXM has reported fourth quarter and full-year 2016 operating and financial results, including record revenue of $1.3 billion and $5.0 billion, respectively, up 9% and 10% versus the prior year periods.
Net income totaled $205 million in the fourth quarter, up 52%, and $746 million for full-year 2016, up 46% from last year.
The company added over 1.75 million net new subscribers during 2016 to end the year with 31.3 million subscribers. Self-pay net additions were 1.66 million during the year, resulting in self-pay subscribers of nearly 26 million at December 31, 2016.
“Last year was a phenomenal year for SiriusXM’s business, and we expect continued success in 2017. We finished ahead of our guidance across the board, with record revenue, adjusted EBITDA and free cash flow. With more than 31 million subscribers, SiriusXM has never had more paying customers” said Jim Meyer, Chief Executive Officer, SiriusXM.
“We will continue to challenge ourselves to provide our subscribers the very best audio content in an easy-to-use package. We have launched an exclusive 24/7 channel, “FOX Sports on SiriusXM,” and we’ve started a daily show with the wildly popular Barstool Sports. We added a new daily talk show with Craig Ferguson, and launched a new daily music show, “Hits 1 in Hollywood“, broadcasting live from SiriusXM’s Los Angeles studios. We also provided our subscribers access to one-of-a-kind events, such as Bon Jovi live in Miami. We never stand still in our quest to have the freshest, most relevant content in the audio entertainment industry, from music to sports to talk to comedy and beyond,” added Meyer.