Key Financial Data
- Q3 Total revenue: $2.153 billion (-0.3% year-over)
- Subscriber revenue: $1.630 billion (+0.1%)
- Advertising revenue: $456 million (+0.2%)
- Net income: $317 million (+6.7%)
- SiriusXM segment revenue: $1.604 billion (-0.4%)
- SiriusXM segment subscriber revenue: $1.500 billion (+0.2%)
- SiriusXM segment advertising revenue: $37 million (-5.1%)
- SiriusXM total subscribers: 32.854 million (+0.1%)
- SiriusXM self-pay subscribers: 31.260 million (+0.1%)
- SiriusXM self-pay net additions: 5,000 (compared to 40,000 losses)
- SiriusXM monthly ARPU: $15.18 (-0.1%)
- Pandora and Off-platform revenue: $549 million (+0.2%)
- Pandora and Off-platform advertising revenue: $419 million (+0.7%)
- Pandora and Off-platform subscriber revenue: $130 million (-1.5%)
- Read more Q3 2026 media earnings coverage
Satellite and streaming radio provider company SiriusXM saw higher profit and a modest increase in paying subscribers during its third quarter (Q3), prompting executives to raise the company’s full-year financial forecast for the second consecutive quarter.
On Tuesday, SiriusXM reported $317 million in net income during Q3, an increase of 7 percent compared to $297 million last year, while revenue declined slightly to $2.15 billion from $2.16 billion. The company attributed the revenue decline in part to lower equipment sales resulting from higher memory costs.
SiriusXM added 5,000 net self-pay subscribers during the quarter, compared to a loss of 40,000 subscribers during the same period last year. The company finished September with approximately 33 million total subscribers, including 31.3 million self-pay customers. Monthly subscriber churn improved to 1.5 percent from 1.6 percent, while average monthly revenue per user remained relatively unchanged at $15.18.
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During a conference call with investors, SiriusXM CEO Jennifer Witz said the company was prioritizing subscriber retention and revenue over aggressive customer acquisition. She said additional improvements could come from data collected through the company’s 360L connected radio platform, which provides information about listening habits and customer engagement.
The company’s advertising business remained relatively stable, with advertising revenue of approximately $456 million during the quarter. Its Pandora and off-platform business generated $549 million in revenue, though Pandora’s monthly active audience declined 6.6 percent to 38.8 million listeners.
Podcast advertising revenue increased 20 percent, helping offset weaker demand for music-related advertising. SiriusXM also expanded its programming agreements with several prominent personalities, including Howard Stern, Andy Cohen and Megyn Kelly, while adding Stephen A. Smith to its lineup.
Average listening time increased 5 percent compared to the prior year. Executives said SiriusXM’s new sports programming also attracted additional listeners; during the quarter, its satellite and streaming platform onboarded an expanded collection of stations owned by Audacy and Good Karma Sports.
SiriusXM is also expanding its advertising business through a partnership to represent audio advertising inventory on YouTube, including music, podcasts and talk programming. The company now expects full-year revenue of approximately $8.55 billion, up from its previous forecast of $8.53 billion. Adjusted EBITDA is projected to reach $2.65 billion, while free cash flow is expected to total $1.4 billion.
