SiriusXM Adds Self-Pay Subs, Says Car Sales and Advertising "Fell Swiftly" Amid Pandemic
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hollywoodreporter.comAudio entertainment giant SiriusXM, the home of Howard Stern, on Tuesday said it added self-pay subscribers in its satellite radio and Pandora businesses for the first quarter, the first one affected by the coronavirus pandemic.
But the company, controlled by John Malone's Liberty Media, withdrew its 2020 guidance amid the pandemic and said its satellite radio subscribers fell when including promotional subs. "In the face of the economy hitting the brakes hard in March, SiriusXM's first-quarter results were very strong," CEO Jim Meyer said. "Auto sales, advertising and customer responses to marketing campaigns all fell swiftly in the second half of March." SiriusXM shares were up 4 percent before the market open.
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