US satellite radio broadcaster and owner of streaming platform Pandora report on their latest Q3 2020 earnings.
The latest report published by SiriusXM is based on data between July and September 2020. The higlights show SiriusXM has nearly 30.5 million self-pay subscribers after an additional 169,000 in Q3. “Self-Pay Subscribers Nearly 30.5 Million. SiriusXM added approximately 169,000 net new self-pay subscribers in the third quarter.” Q3 2020 revenue was up 1% year-on-year. “SiriusXM Revenue Increased 1% to $1.6 Billion.”
Pandora has seen continued decline in listeners over the year. Ending Q3 with 58.6 million monthly active users, down from 59.6m in Q2 and 63.1m Q3 last year “Monthly Active Users (MAUs) at Pandora were 58.6 million in the third quarter, down from 63.1 million in the prior year period.” However Pandora Plus and Premium subscriptions are slightly up, with an additional 105,000 subscribers for both tiers, nearly 6.4 million total compared to nearly 6.3 million last year “Self-Pay Net Adds of 105,000” “nearly 6.4 million self-pay subscribers”.
- SiriusXM Self-Pay Net Subscriber Additions of 169,000 in Third Quarter
- Third Quarter Revenue of $2,025 Million, Up 1% Year-Over-Year
- Third Quarter Net Income of $272 Million, Up 11%; Diluted EPS of $0.06
- Adjusted EBITDA of $661 Million in the Third Quarter, Up 1% Year-Over-Year
- Company Increases 2020 Subscriber and Financial Guidance
- Third Quarter Capital Returns Total $544 Million; Stitcher Acquisition Complete; Leadership Transition on Track
During the earnings call SiriusXM CEO Jim Meyer said:
We still continue to battle a declining listener base, with that said, it is still by far the largest listener base in the U.S. market and we’re working really hard on that problemJim Meyer, CEO, Sirius XM