SiriusXM reported 33 million paid subscribers in the second quarter of 2025, a decrease of approximately 68,000 from the previous quarter.
However, the audio giant pointed to this as an improvement after losing 100,000 paid subscribers in the same period last year, and noted its fifth quarter of subscriber improvement, which it attributed to “meaningful improvements in new acquisition programs,” as well as low churn.
SiriusXM reported revenue of $2.14 billion, a 2 percent decrease compared to the same period in 2024, and net income of $205 million compared to $354 million a year ago. The fall in revenue was due to a $21 million reduction in subscriber revenue, according to the company.
Earnings per share came in at 57 cents, below analyst expectations and compared to 74 cents in the second quarter of 2024.
The company highlights the performance of podcasts, which saw revenue up close to 50 percent compared to the same period last year. SiriusXM said the performance was due to “expanded video and social monetization,” in addition to new talent additions such as Trevor Noah, who signed a multiyear deal to launch a new podcast. The company also pointed to live events such as the SmartLess live taping with John Mayer, as a way to boost branded opportunities and fan engagement. The company’s advertising revenue for Pandora and its Off-Platform segment fell to $394 million, compared to $400 million in the second quarter of 2024, which it said was due to “lower advertiser demand in streaming music, partially offset by growth in podcast revenue.”
Other recent signings include Stephen A. Smith, who will host two shows for SiriusXM, including a new daily sports talk show and a weekly current events show.
The company maintained its full-year 2025 guidance including approximately $8.5 billion in revenue, adjusted EBITDA of approximately $2.6 billion and free cash flow of approximately $1.15 billion.
“Our renewed strategic focus continued to deliver this quarter,” said CEO Jennifer Witz. “We achieved meaningful year-over-year subscriber improvements, signed exciting new content agreements, accelerated momentum in podcasting, and unlocked significant cost efficiencies. We’re seeing deeper engagement from our most loyal listeners, early traction from sustained strength across key performance metrics and operational improvements. We’re becoming a more focused, more flexible company — centered on delivering real and increasing value to our listeners and driving long-term growth for our business.”
More to come.
