SIRIUS XM REVENUE HITS $5B, 31M SUBS

SiriusXM’s revenue in 2016 climbed 10% to a record $5b and the satellite radio saw its subscriber numbers top 31m, an increase of 1.75m over 2015.

Company growth was driven by a 6% increase in subscribers and a 3% increase in average revenue per user to $12.91. Self-pay net additions were 1.66m during the year, resulting in self-pay subscribers of nearly 26m.

Net income for the year totaled $746m for the year—up 46%— with $205m coming in the fourth quarter, a 52% spike. Adjusted EBITDA grew 13% in full-year 2016 to $1.88b.

"Last year was a phenomenal year for SiriusXM's business, and we expect continued success in 2017,” said Jim Meyer, Chief Executive Officer, SiriusXM. “We finished ahead of our guidance across the board, with record revenue, adjusted EBITDA and free cash flow.”

The company expects a 1.3m increase in subscribers, revenue of about $5.3b and an adjusted EBITDA of more than $2b in 2017, .

The company touted new additions to its lineup such as Barstool Sports and the daily music show "Hits 1 in Hollywood," in addition to its Bon Jovi concert event in Miami.