SiriusXM has officially joined the Fortune 500 for the first time, a milestone for the satellite radio pioneer. The $8.7 billion company cracked the list after its 2024 spinoff from Liberty Media, solidifying its standing as one of the country’s largest public companies by revenue.
The 2025 edition of the Fortune 500, now in its 71st year, recognizes the largest public US companies by annual revenue. This year’s threshold to qualify was $7.4 billion in annual revenue, reflecting a 4% increase from 2024. SiriusXM is the first radio-focused company to make the list since iHeartMedia made its last Fortune 500 appearance in 2018.
The accolade comes with a feature on CEO Jennifer Witz in the magazine, who started at Sirius in 2002 in finance. With 33.2 million subscribers and a business model still driven primarily by in-car listening, SiriusXM is refocusing its strategy on the automotive space and taking AM/FM share of ear after an attempt at courting mobile app-based subscribers fell flat.
As discussed by Witz at the satellite broadcaster’s Q1 2025 earnings call, the company is in the process of introducing a low-cost, ad-supported subscription tier aimed at converting terrestrial radio listeners. This new tier, expected to launch at a price in the high single digits, will be available in nearly 100 million vehicles and will not replace existing paid plans, but rather expand the company’s reach.
The pivot includes reduced marketing for streaming-only products, expanded Free Access content, and promotional open broadcasts to non-subscribers. Despite a slight dip in revenue and subscriber losses in Q1 2025, SiriusXM leadership remains confident, citing improved churn metrics and continued loyalty from its core in-car user base.
