SiriusXM reaches 30 million subscribers
Satellite radio monolith SiriusXM has surpassed the milestone of 30 million subscribers. The Liberty Media-controlled station added 465,000 new subscribers in the first quarter of 2016, up from 431,000 in the same period a year ago. SiriusXM closed out March with 30.1 million subscribers. Liberty Media currently owns a 62% stake in SiriusXM, and CEO Greg Maffei expects that share to increase. “Time is on our side,” Maffei replied in February 2016 when asked about Liberty’s long-term plans for its stake. “I believe we’re likely to be the 100 percent owners at some reasonable price.”
“SiriusXM has grown from a pioneering start-up to a media powerhouse in less than 15 years of service by providing listeners with the best audio entertainment available,” commented CEO Jim Meyer. “Our exclusive, unmatched content and ease of use has led us to this important subscriber milestone.”
Radio personality Howard Stern and the station renewed their partnership for another five years in December 2015. Financial terms of the contract extension were not disclosed, but for the previous five-year period SiriusXM paid Stern $80 million annually for Stern’s show which airs live three times weekly.
Meyer continued: “We believe there is more success to come because of our relentless search for new and exciting content, our intense focus on subscriber satisfaction, and our significant investments in next-generation services and platforms.”
SiriusXM will report full first-quarter results on April 28. In 2015, the company reported its strongest full-year subscriber growth since 2007, and expects the positive growth trend to continue.