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SiriusXM Lost 445,000 Self-Pay Subscribers in 2023 as It Shifts Resources to New Streaming Tier
Full-year revenue dropped 0.6% to $8.95 billion while adjusted EBITDA fell 2% to $2.8 billion.
SiriusXM added 131,000 self-pay subscribers in the fourth quarter and beat its full-year guidance for earnings and free cash flow while only slightly missing its revenue goal, the company announced Thursday (Feb. 1). The company launched a new app in November and a $9.99-per-month streaming-only subscription service aimed at younger audiences who don’t listen primarily in their cars. “While early indications are showing signs of positive impacts of our business investments, it will take time for these to fully reflect in our subscriber and financial metrics,” said CEO Jennifer Witz during Thursday’s earnings call.
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