Sirius Forecasts Slower Subscriber Growth in 2019
08 Janeiro 2019 - 9:02PM
Dow Jones News
By Patrick Thomas
Sirius XM Holdings Inc. (SIRI) on Tuesday guided for slower
subscriber growth in 2019, despite beating its 2018 forecast by
40%.
Sirius had more than 28.9 million self-pay subscribers for its
satellite radio service at the end of 2018, up 1.4 million from the
year earlier. Self-pay subscribers pay for the service themselves
as opposed to getting it through a promotional deal.
The company had guided for approximately 1 million new self-pay
subscribers in 2018. For 2019, the company forecasts additions
"approaching 1 million."
It also is expecting $6.1 billion in revenue for 2019.
Sirius also said it expects to meet or exceed its 2018 revenue
guidance of $5.72 billion. It is set to report fourth-quarter
earnings on Jan. 30.
The company's 2019 guidance doesn't include its $3 billion
acquisition of Pandora Media Inc. (P), which it announced in
September. That deal is expected to close later this month, shortly
after its stockholder meeting.
"We are quickly moving to implement exciting ways the two
businesses can work together," Jim Meyer, Sirius's chief executive,
said in a statement.
Shares of Sirius fell 1.1% in after-hours trading.
Write to Patrick Thomas at patrick.thomas@wsj.com
(END) Dow Jones Newswires
January 08, 2019 17:47 ET (22:47 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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