On Tuesday, SiriusXM announced it added 1.4 million self-pay subscribers to finish 2018 with approximately 28.9 million self-pay subscribers, 40% higher than the company expected. Total net subscriber additions in 2018 were 1.3 million, resulting in total paid subscribers of approximately 34 million at year end. The company also announced that it expects to meet or exceed its 2018 guidance for revenue, adjusted EBITDA, and free cash flow.
SiriusXM will release its full-year and fourth quarter 2018 financial results Wednesday, January 30.
CEO Jim Meyer said he’s proud to report that 2018 was another year of operational excellence with record-high subscribers, revenue, and adjusted EBITDA. “Last year also saw SiriusXM achieve important milestones, like the introduction of 360L and significant improvements in our smartphone apps and IP distribution on connected devices. We attained a record 40% adjusted EBITDA margin in the third quarter, saw our efforts in connected vehicle services bear fruit and, of course, we were extremely pleased to reach an agreement to acquire Pandora Media.”
The company also issued 2019 subscriber and financial guidance, including:
SiriusXM self-pay net additions approaching 1 million,
Total revenue of approximately $6.1 billion,
Adjusted EBITDA of approximately $2.3 billion, and
Free cash flow of approximately $1.6 billion.