SiriusXM Adds 2 Million Net Subscribers In 2012; Issues 2013 Guidance
NEW YORK, Jan. 9, 2013
NEW YORK, Jan. 9, 2013 /PRNewswire/ -- Sirius XM Radio (NASDAQ: SIRI) today
announced that it ended the year with 23.9 million subscribers, reporting 2
million net subscriber additions in 2012. The company also announced that it
expects to meet or exceed all of its 2012 financial guidance.
SiriusXM also issued new subscriber and financial guidance for 2013:
oRevenue of over $3.7 billion,
oAdjusted EBITDA of over $1.1 billion,
oFree cash flow approaching $900 million,
oSelf-pay net subscriber additions of approximately 1.6 million, and
oTotal net subscriber additions of approximately 1.4 million.
"SiriusXM set a post-merger record of 2 million net additions in 2012, and we
expect to report financial and operating results that meet or exceed all of
the guidance we provided for 2012. Net self-pay subscriber additions in 2012
increased over 30% to more than 1.6 million, turning in our best performance
since 2008," said Jim Meyer, SiriusXM's CEO. "Our unparalleled programming
and product innovations, such as On Demand programming and the soon to be
launched customization feature, will allow us to continue our strong record of
growth driving our subscriber base to exceed 25 million in 2013. With our
laser like focus on cost efficient growth and customer service, we will
continue to achieve double digit growth in adjusted EBITDA and free cash flow
allowing us to return substantial capital to stockholders through our $2
billion stock buyback program," added Meyer.
About Sirius XM Radio
Sirius XM Radio Inc. is the world's largest radio broadcaster measured by
revenue and has 23.9 million subscribers. SiriusXM creates and broadcasts
commercial-free music; premier sports talk and live events; comedy; news;
exclusive talk and entertainment; and the most comprehensive Latin music,
sports and talk programming in radio. SiriusXM is available in vehicles from
every major car company in the U.S., from retailers nationwide, and online at
siriusxm.com. SiriusXM programming is also available through the SiriusXM
Internet Radio App for Android, Apple, and BlackBerry smartphones and other
connected devices. SiriusXM also holds a minority interest in SiriusXM Canada
which has more than 2 million subscribers.
This communication contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Such statements
include, but are not limited to, statements about future financial and
operating results, our plans, objectives, expectations and intentions with
respect to future operations, products and services; and other statements
identified by words such as "will likely result," "are expected to," "will
continue," "is anticipated," "estimated," "believe," "intend," "plan,"
"projection," "outlook" or words of similar meaning. Such forward-looking
statements are based upon the current beliefs and expectations of our
management and are inherently subject to significant business, economic and
competitive uncertainties and contingencies, many of which are difficult to
predict and generally beyond our control. Actual results may differ
materially from the results anticipated in these forward-looking statements.
The following factors, among others, could cause actual results to differ
materially from the anticipated results or other expectations expressed in the
forward-looking statements: our competitive position versus other forms of
audio entertainment; our dependence upon automakers; general economic
conditions; failure of our satellites, which, in most cases, are not insured;
our ability to attract and retain subscribers at a profitable level; royalties
we pay for music rights; the unfavorable outcome of pending or future
litigation; failure of third parties to perform; and our substantial
indebtedness. Additional factors that could cause our results to differ
materially from those described in the forward-looking statements can be found
in our Annual Report on Form 10-K for the year ended December 31, 2011, which
is filed with the Securities and Exchange Commission (the "SEC") and available
at the SEC's Internet site (http://www.sec.gov). The information set forth
herein speaks only as of the date hereof, and we disclaim any intention or
obligation to update any forward looking statements as a result of
developments occurring after the date of this communication.
Follow SiriusXM on Twitter or like the SiriusXM page on Facebook.
E - SIRI
SOURCE Sirius XM Radio
Contact: Investors, Hooper Stevens, +1-212-901-6718,
firstname.lastname@example.org, or Media, Patrick Reilly, +1-212-901-6646,
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