Sirius XM Holdings Inc. (Sirius XM), the parent company of satellite radio service Sirius XM Radio Inc. and streaming platform Pandora Media, LLC, reported mixed financial results for the quarter ended June 30, 2024. Total consolidated revenue decreased by 3% year-over-year to $2.178 billion, with Sirius XM's subscriber revenue falling by 5% to $1.520 billion. Advertising revenue for Sirius XM also saw a decline of 4% to $43 million. However, Pandora and Off-platform's subscriber revenue increased by 8% to $138 million, and its advertising revenue remained stable at $400 million. The company's net income saw a slight increase of 2% to $316 million. Sirius XM's subscriber base experienced a decline, with self-pay subscribers decreasing by 1% and paid promotional subscribers by 18%. Pandora's monthly active users...Show More

Sirius XM Holdings Inc. (Sirius XM), the parent company of satellite radio service Sirius XM Radio Inc. and streaming platform Pandora Media, LLC, reported mixed financial results for the quarter ended June 30, 2024. Total consolidated revenue decreased by 3% year-over-year to $2.178 billion, with Sirius XM's subscriber revenue falling by 5% to $1.520 billion. Advertising revenue for Sirius XM also saw a decline of 4% to $43 million. However, Pandora and Off-platform's subscriber revenue increased by 8% to $138 million, and its advertising revenue remained stable at $400 million. The company's net income saw a slight increase of 2% to $316 million. Sirius XM's subscriber base experienced a decline, with self-pay subscribers decreasing by 1% and paid promotional subscribers by 18%. Pandora's monthly active users also decreased by 5% to 45.1 million. Despite these challenges, Sirius XM declared a quarterly dividend of $0.0266 per share, payable on August 26, 2024. The company's future plans include a strategic initiative involving a split-off and merger transaction with Liberty Media, expected to be completed after September 9, 2024. This transaction aims to operate Sirius XM and Liberty Media independently, with no ownership interest in each other post-transaction.