SiriusXM Announces Quarterly Earnings Rise as Company Hits 32 Million Subscribers

Satellite radio service SiriusXM, which is home to Breitbart News Daily, has announced a rise in their quarterly earnings as the company hit 32 million subscribers.

The Hollywood Reporter reports that SiriusXM, the satellite radio service run by CEO Jim Meyer, boasted an earnings increase of 16 percent to $202 million, with higher subscriber count and advertising revenue overall. Overall revenue for the year was $1.34 billion, an increase of nine percent from the previous year.

Breitbart News Daily is the first live, conservative radio enterprise to air seven days a week. SiriusXM Vice President for news and talk Dave Gorab called the show “the conservative news show of record.” The show is broadcast live Monday through Friday from 6-9 AM Eastern, 10 AM-1 PM Eastern on Saturday, and 7-10 PM Eastern Sunday on SiriusXM Patriot Channel 125. Patriot is the service’s dedicated conservative talk station on which Cam & Company from NRAnews.com, The Wilkow Majority, The David Webb Show, The Sean Hannity Show, The Mark Levin Show, and Patriot Tonight can also be heard.

The latest figures come just shortly after the announcement of a $480 million strategic cash investment by Pandora in SiriusXM. SiriusXM saw a growth of  466,000 new subscribers this quarter, with nearly 32 million subscribers overall. CEO Jim Meyer said in a statement, “In the second quarter, SiriusXM continued its strong track record of execution, and demand for our premium content bundle pushed our listener base to an all-time high of more than 32 million paying subscribers.”

Meyer told analysts in a call that the deal with Pandora is still currently in its early stages: “We really want to get under the hood of how the free [radio] business works.” The CEO did not elaborate on how the deal with Pandora, which is primarily an advertisement driven free radio service, would benefit SiriusXM, a subscription driven personalized radio service.

Meyer recently discussed SiriusXM’s plans to launch a video streaming service, starting with the broadcasting of the Howard Stern show which will roll out the new streaming platform. “Our strategy is not to offer video for the sake of video, or full-length movies. We intend to drive video … as an extension of our core audio content,” said Meyer, adding that they plan to focus on in-house talent to drive the video service.

The company increased their 2017 revenue guidance slightly from $5.30 billion to $5.37 billion, they also raised their prediction of 1.3 million self-pay subscriber additions during the current year, up to 1.4 million.