SiriusXM
NASDAQ: SIRIPublic · 1 known investors
SiriusXM provides audio entertainment across music, sports, news, talk, and podcasts through curated and original channels available in cars, on phones, and on smart devices. It offers live sports coverage, celebrity-hosted talk shows, comedy, and genre-based music channels to consumer listeners.
Also known as SIRI · Sirius XM Holdings Inc. · Sirius XM Radio LLC
Investors · 1
Company profile
researched Aug 2026SiriusXM (Sirius XM Holdings Inc., NASDAQ-listed under SIRI) is an audio entertainment company operating across North America. Its portfolio includes the flagship SiriusXM subscription service, the ad-supported and premium Pandora music streaming services, a podcast network, and a suite of business and advertising solutions. The company reports a combined monthly audience of approximately 255 million listeners and approximately 33 million paid subscribers as of April 30, 2026, with Pandora reporting over 40 million active users on the investor site and 39.8 million monthly active users in Q2 2026 (down from 42.7 million a year earlier).
The consumer service offers live, on-demand, and curated programming across music, sports, news, talk, comedy, and podcasts, delivered via in-car satellite radio and the SiriusXM app on phones, TVs, speakers, and other connected devices. Programming includes curated music channels organized by genre, decade, artist, and mood; artist- and personality-branded channels (for example Alex Cooper's Unwell, Life with John Mayer, Carrie Underwood, Bob Marley, Shade 45, and two channels of Howard Stern); live play-by-play for NFL, MLB, NBA, NHL, NCAA, NASCAR, and PGA TOUR plus sports talk and fantasy sports; news and politics channels; and comedy and talk programming. The All Access plan is marketed as 425+ channels, including 165+ in-vehicle satellite channels, with app-only extras such as Xtra music channels, SiriusXM video, podcasts, and personalized artist stations.
Beyond subscriptions, the company is expanding its advertising business. On the Q2 2026 earnings call, Chief Advertising Revenue Officer Scott Walker identified local and mid-market advertising — described as a large or majority share of traditional radio spend — as the next area of focus, with plans to hire to capture that market, following a partnership with Audacy that added local sports and news stations across dozens of markets to the platform.
Business model
SiriusXM operates a hybrid subscription-and-advertising audio business. Its flagship satellite and streaming service is sold as consumer subscriptions with in-car satellite and app-based streaming tiers, while Pandora and off-platform inventory monetize through advertising. The company also sells business and advertising solutions and provides connected vehicle services to several automakers. Reported results are organized in two segments: the SiriusXM segment and the Pandora and Off Platform segment.
Recurring consumer subscription fees for satellite and streaming plans (All Music at $11.99/month after promotion, with Sports at $8/month, News at $5/month, and Talk at $5/month add-ons; All Access at $25.99/month after promotion, including an app-only All Access tier at $11.99/month after promotion), plus advertising revenue from Pandora and off-platform inventory, and business/advertising solutions and connected vehicle services for automakers.
Traction
Approximately 33 million paid subscribers and roughly 255 million combined monthly listeners as of April 30, 2026; Pandora with over 40 million active users per the investor site and 39.8 million monthly active users reported for Q2 2026. FY2025 total revenue of $8,558 million, adjusted EBITDA of $2,665 million, and free cash flow of $1,256 million; Q2 2026 revenue of $2.16 billion with record-low self-pay monthly churn of about 1.4%.
Latest developments
On its Q2 2026 earnings call (reported July 31, 2026), SiriusXM posted total revenue of $2.16 billion (up 1% year over year), net income of $239 million (up nearly 17%), adjusted EBITDA of $691 million, and free cash flow of $593 million. The satellite business ended the quarter with about 33 million subscribers, self-pay subscribers grew by about 22,000 (a 90,000-subscriber improvement year over year), self-pay monthly churn improved to about 1.4% (described as a company record low), and ARPU rose 1% to $15.32. Pandora and Off-Platform revenue was $543 million (up 4%), with off-platform advertising revenue up 5% to $413 million, while Pandora monthly active users fell to 39.8 million from 42.7 million. The company raised full-year 2026 guidance across all three key financial targets, including total revenue of approximately $8.525 billion. The same day, it disclosed the departure of COO Wayne Thorsen. CEO Jennifer Witz was scheduled to present at the Goldman Sachs Communacopia + Technology Conference on September 9, 2026. Recent content additions include the WWE Radio channel (CH 156), the Unwell channels with Alex Cooper, and limited-run channels such as Little Miss Twain Radio.
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
The company describes itself as the leading audio entertainment company in North America, reaching approximately 255 million monthly listeners across its services. Trade coverage frames SiriusXM as competing with traditional AM/FM broadcasters for in-car listening share and, increasingly, for local advertising revenue, following its Audacy partnership.
Company materials emphasize breadth and exclusivity of content: original and exclusive channels, artist- and celebrity-hosted programming, exclusive in-studio interviews and performances, exclusive comedy, two channels of Howard Stern, and live play-by-play across major professional and college sports. Distribution combines nationwide in-car satellite coverage across the 48 contiguous United States, the District of Columbia, and Puerto Rico with app-based streaming, including streaming-only channels and video content not available via satellite.
Technology
Delivery combines satellite radio broadcast to in-vehicle tuners (165+ channels) with an app-based streaming platform offering streaming-only channels, on-demand podcasts, personalized artist stations, and video; app listening in cars is supported via phone connection, Apple CarPlay, or Android Auto. The streaming player is a JavaScript web application.
Go-to-market
Consumer acquisition is driven by promotional subscription pricing (for example, $1 for 3 months on siriusxm.com plans, and $5/month for 12 months on the All Access plan when activating a newly purchased radio via getsiriusxm.com), automatically renewing plans requiring a credit card, and telephone activation channels. Distribution runs through automakers and factory-installed satellite radios as well as direct app downloads. On the advertising side, the company sells to brand advertisers and is building capacity to reach mid-market and small-business local advertisers, and has partnered with Audacy to add local station content.
Consumer listeners in cars, at home, and on mobile devices across music, sports, news, talk, comedy, and podcast genres; advertisers (brand, and increasingly mid-market and local SMB buyers); and automakers purchasing connected vehicle services.
Geography
The investor site describes SiriusXM as the leading audio entertainment company in North America. In-car satellite service covers the 48 contiguous United States, the District of Columbia, and Puerto Rico, with some limitations; app streaming extends listening to home and mobile devices. Corporate office: 1221 Avenue of the Americas, 35th Floor, New York, NY 10020.
History
Sources describe SiriusXM as an operating public company (Sirius XM Holdings Inc., ticker SIRI) with a corporate office in New York and a portfolio built around the SiriusXM subscription service, Pandora streaming, and a podcast network. Recent history documented in the sources includes the December 2024 creation of a COO role filled by Wayne Thorsen, his departure disclosed on the Q2 2026 earnings day, an Audacy content partnership in summer 2026, and full-year 2026 guidance raised to approximately $8.525 billion in total revenue. Copyright notices on company pages reference Sirius XM Radio LLC.
Risks & controversies
Reported financial trends show declining annual revenue (from $8,953 million in 2023 to $8,699 million in 2024 and $8,558 million in 2025) and declining adjusted EBITDA over the same period, along with a year-over-year drop in Pandora monthly active users from 42.7 million to 39.8 million. Leadership continuity is a factor: the COO position was vacated in 2026 with no named successor. Subscription terms disclose automatic renewal, no refunds except as provided in the customer agreement, and that fees, content, and features are subject to change; commenters in trade press questioned the competitive dynamics of the Audacy arrangement.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Acquisitions · 1
Early investors' stakes continue via these dealsAutomatic Labs built a connected-car adapter and app that plugged into a vehicle's OBD-II port to track driving data, diagnostics, and trips. It was acquired by SiriusXM in 2017 and shut down in 2020.
Timeline · 6
launches, deals, and filingsSiriusXM disclosed the departure of COO Wayne Thorsen, who joined in December 2024 into a newly created COO role overseeing product and technology functions plus commercial activities including automotive and streaming distribution, subscriber acquisition marketing, and corporate strategy. An SEC filing stated there were no disagreements between the company and Thorsen; no successor was named at the time.
Following second-quarter results, SiriusXM raised its full-year 2026 guidance across all three key financial targets, including total revenue to approximately $8.525 billion.
$8.5B source ↗
A partnership with Audacy added hometown sports and news stations across dozens of markets to the SiriusXM platform in the summer of 2026.
SiriusXM introduced two channels tied to Alex Cooper's Unwell brand — Unwell Music (CH 3) and Unwell On Air (streaming) — featuring live shows with conversation and music selections.
SiriusXM listed WWE Radio (CH 156) as a new 24/7 channel for wrestling fans featuring live talk shows, play-by-play coverage of WWE Premium Live Events, WWE TV simulcasts, and WWE podcasts, with flagship show Busted Open.
Thorsen stepped into a newly created COO role overseeing product and technology functions along with commercial activities including automotive and streaming distribution, subscriber acquisition marketing, and corporate strategy.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 8
primary sources listed
- SiriusXMsiriusxm.com · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does SiriusXM do?
- Public North American audio entertainment company operating SiriusXM satellite/streaming subscriptions, Pandora, and podcast and ad businesses.
- Who are SiriusXM's investors?
- SiriusXM's investors include Felicis Ventures.
- Is SiriusXM publicly traded?
- Yes — SiriusXM trades on NASDAQ under the ticker SIRI.