SiriusXM today announced it added approximately 1.56 million self-pay subscribers to finish 2017 with approximately 27.5 million self-pay subscribers, improving upon the company’s increased guidance by approximately 160,000 net additions.
Total net subscriber additions in 2017 were approximately 1.39 million, resulting in total subscribers of 32.7 million at year end.
The company also announced that it expects to meet or exceed its 2017 guidance for revenue, adjusted EBITDA and free cash flow.
“2017 was a year of remarkable performance for SiriusXM, and I congratulate our team on its hard work and efforts to achieve these results. In addition to ending the year with a record number of subscribers and setting new high water marks for revenue, adjusted EBITDA, and free cash flow, we made substantial progress in our efforts to win business in used cars and deploy our next-generation 360L platform. We also continued to return significant capital to stockholders in 2017 via stock buybacks and an increased dividend, and we have set ambitious targets for continued growth in 2018,” said Jim Meyer, SiriusXM’s Chief Executive Officer.