Satellite radio company SiriusXM Pandora says it now has more than 31 million subscribers willing to pay at least $5 a month for its premium radio offering.
Another 3 million customers are counted as promotional subscribers, while more than 9 million customers are streaming or listening to SiriusXM radio as part of a free trial, the company said.
The numbers help bring SiriusXM Pandora’s total number of paying radio subscribers to over 34 million, a year-over-year increase of about 1 percent. Around 31 million of those customers are paying the company to access radio streams on SiriusXM hardware or through smartphone and smart TV apps, the company said.
Combined with success at the company’s Pandora subsidiary, SiriusXM Pandora brought in more than $2.16 billion in revenue, a year-over-year increase of 15 percent, the company touted.
“We have long been the leader in shaping the future of audio for listeners, and we continue doing so by providing curated and premium content in innovative formats,” Jennifer Witz, the chief executive of SiriusXM Pandora, said in a statement.
Witz said the company had a number of exciting new programming initiatives coming in the near future, including a two-hour radio program hosted by former Fox News and NBC News personality Megyn Kelly (with video of the program to appear on the SiriusXM app), a new documentary podcast produced by actor Seth Rogen, and a collaboration between Pandora and social media platform TikTok that will help power some of its music and talk programming.
SiriusXM said it expects to end the year with an additional 1.1 million subscribers compared to last year and total revenue of around $8.55 billion. Earlier this week, it announced a new subscription plan for its radio service that couples two streaming accounts with service on two hardware radios for $35 a month.
