Sirius XM

What Sirius XM does

Sirius XM Holdings Inc. (NASDAQ: SIRI) is the only FCC-licensed satellite digital audio radio service (SDARS) operator in the United States, delivering subscription audio entertainment across satellite, streaming, podcast, and connected-vehicle surfaces to approximately 33 million self-pay subscribers and roughly 255 million combined monthly listeners (FY2025). The portfolio centers on the flagship SiriusXM subscription service, augmented by Pandora (ad-supported and premium streaming), the SiriusXM Podcast Network (including acquired Team Coco, Stitcher, 99% Invisible, and Alex Cooper's Unwell), and the SiriusXM Media advertising arm powered by the AdsWizz programmatic audio ad-tech platform. Specialty data services — SiriusXM Marine (with Fish Mapping curated by Garmin oceanographers) and SiriusXM Aviation — extend the satellite delivery infrastructure into high-value vertical markets. Revenue is generated primarily through recurring subscriptions (~$77% of FY2024 revenue), with secondary streams from advertising (Pandora, SiriusXM Media, podcast network) and connected-vehicle services.

Go-to-market operates across three motions: direct-to-consumer (promotional $1-for-3-months offer, self-serve account center, military and student discounts), OEM-embedded distribution (pre-installation in vehicles via automotive manufacturers with activation through new-car trial programs — cited as the primary net-additions lever), and B2B channel partnerships (SiriusXM Media, AdsWizz, Pandora for Business, Simplecast, CloudCover, and SiriusXM Connected Vehicle Services). Pricing spans promotional consumer offers ($1 for 3 months), premium entertainment tiers, marine plans from $17.99/month, aviation plans from $29.99/month, and the Fish Mapping premium add-on at $109.99/month. Berkshire Hathaway holds approximately 37% of equity as the largest shareholder, providing a stable institutional anchor.

Recent operational metrics indicate stabilization: Q1 2026 revenue was $2.09B (up 1% YoY), net income $245M (up 20% YoY), free cash flow $171M (more than tripled YoY), self-pay churn at a record-low 1.5%, and ARPU up 1% to $14.99. Management is executing a $100M 2026 cost-savings program (~$45M captured by Q1), with full-year FCF guidance of ~$1.35B and a path to ~$1.5B in 2027. The 2026 exclusive U.S. audio advertising sales partnership for YouTube inventory (effective fall 2026, expected to ramp meaningfully in 2027) is the most significant new revenue lever, while early-stage iHeartMedia acquisition discussions signal further consolidation intent in U.S. audio.

Name

Sirius XM

Legal name

Sirius XM Holdings Inc.

Website

https://siriusxm.com

Company type

Public

Founded year

1990

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Sirius XM Holdings is the only FCC-licensed U.S. satellite radio operator, delivering subscription and ad-supported audio entertainment across satellite, streaming, podcasts, marine, aviation, and connected-vehicle services to ~33M self-pay subscribers and ~255M monthly listeners.

Ownership category

akta.pro rank

Product category

Satellite Radio and Audio Streaming

NAICS

Media Streaming Distribution Services, Social Networks, and Other Media Networks and Content Providers (516210), Media Streaming Distribution Services, Social Networks, and Other Media Networks and Content Providers (51621)

SIC

Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

Podcast Hosting, Distribution & Listening Platforms (BPAMAJAD)

akta.pro secondary industries

Music & Audio Streaming Platforms (BPAMAJAC), Podcast Hosting & Enterprise Solutions (Private/Branded Podcasts) (MPACADAF), Podcast Syndication, Cross-Promotion & Growth Networks (MPACADAG)

Keywords

• Satellite radio services
• Audio streaming subscription
• Programmatic audio advertising
• Marine weather services
• Aviation weather data

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Digital Commerce or Content

Cost components

Operations, Technology or R&D, Personnel, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. SiriusXM Subscription Revenue: Recurring subscription revenue from flagship SiriusXM satellite and streaming audio service; subscription revenue accounted for ~77% of total revenue in 2024 with ~33M total subscribers and 31.3M self-pay subscribers as of recent disclosures.
2. Pandora Advertising Revenue: Ad-supported and premium music streaming revenue from Pandora including free ad-supported tier plus Pandora Premium subscription; Pandora advertising was a key driver of Q1 2026 earnings beat with podcast ad revenue up 37% YoY.
3. SiriusXM Media Advertising (Including YouTube Audio): B2B ad-tech revenue via AdsWizz platform; expanded in 2026 with exclusive U.S. sales rights to YouTube audio inventory reaching 255M monthly listeners, with partnership expected to ramp meaningfully in 2027.
4. SiriusXM Marine Subscription Revenue: Recurring subscription revenue from marine weather, Fish Mapping, and entertainment add-ons; plans starting at $17.99/month with hardware compatibility for Garmin, Raymarine, Simrad, Lowrance, B&G, Furuno.
5. SiriusXM Aviation Subscription Revenue: Recurring subscription revenue from aviation weather and entertainment; plans starting at $29.99/month with $400 mail/online hardware reward promo.
6. Hardware Sales (Radios, Receivers, Accessories): E-commerce hardware sales of SiriusXM-branded vehicle, home, marine, and aviation receivers and accessories (e.g., Onyx EZR, Roady BT, Garmin GXM 54) via Shop SiriusXM storefront.
7. Podcast Network Sponsorship and Distribution: Revenue from podcast content including acquired Team Coco network (2022, $150M), Stitcher (2024), and 99% Invisible; includes advertising, distribution deals (Tubi, YouTube), and content licensing.
8. SiriusXM for Business / Pandora for Business / CloudCover: B2B audio-as-a-service licensing for businesses including Pandora for Business, CloudCover (commercial music), SiriusXM Music for Business, and Pandora AMP advertising platform.

Pricing tiers

Go-to-market motion4 records

Core offering

Sirius XM Holdings Inc. operates a portfolio of subscription audio entertainment services delivered via satellite and IP streaming to vehicles, mobile devices, home/office equipment, marine vessels, and aircraft. The flagship SiriusXM subscription service is complemented by the Pandora ad-supported and premium streaming service, the SiriusXM Podcast Network, SiriusXM Media advertising sales, and specialty data services (SiriusXM Marine weather/Fish Mapping, SiriusXM Aviation weather). The portfolio serves approximately 33 million self-pay subscribers and reaches about 255 million combined monthly listeners.

Product overview

Sirius XM Holdings Inc. operates a platform-plus-modules audio entertainment portfolio rather than a single unified product. The architecture centers on the flagship SiriusXM subscription satellite/streaming radio service, augmented by a constellation of acquired and sub-brands: the Pandora streaming service for personalized music, the SiriusXM Podcast Network (including acquired Team Coco and 99% Invisible), and the SiriusXM Media advertising arm powered by the AdsWizz ad-tech platform (with Simplecast supporting podcast hosting and distribution). On top of this core consumer business, SiriusXM layers specialty data services — SiriusXM Marine (with Fish Mapping add-on), SiriusXM Aviation, and Pandora for Business / Pandora CloudCover / Pandora AMP for commercial customers — plus the separately governed SiriusXM Connected Vehicle Services for in-vehicle safety and convenience. The portfolio collectively reached approximately 255 million combined monthly listeners (FY2025) across subscription, ad-supported streaming, podcasts, and business audio solutions.

Differentiator

Problem solved

Functional benefit

Brands

• Pandora: Ad-supported and premium music streaming service (pandora.com)
• SiriusXM Media
• AdsWizz
• Simplecast
• Pandora AMP
• SiriusXM Connected Vehicle Services
• SiriusXM Marine
• SiriusXM Aviation
• Pandora for Business
• Pandora CloudCover
• Team Coco

Products and services

• SiriusXM Subscription Satellite Radio Flagship subscription-based satellite and streaming audio entertainment service offering music, sports, talk, news, comedy, and podcasts across vehicles, the SiriusXM app, smart devices, and home/office equipment. Includes the 360L hybrid satellite/streaming experience and serves approximately 33 million total subscribers.
• Pandora Streaming Service

Quantifiable outcome

• Q1 2026 net income $245M, up 20% YoY; free cash flow $171M, more than tripled YoY; revenue $2.09B up 1% YoY.
• +7 more outcomes

Named customers7 records

Ideal customer profiles7 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

AI capability10 records

Feature6 records

Partnerships

18 partnerships are on record, tiered minor, core and flagship.

• Paley Center for MediaminorGTM or Marketing Partner · 19 October 2026Paley International Council Summit (Oct 19-21, 2026, NYC) will launch inaugural Dr. John C. Malone Annual Keynote Address, endowed by SiriusXM and seven other major media and entertainment companies (Charter Communications, Liberty Global, Liberty Latin America, Liberty Media, Live Nation, Warner Bros. Discovery).
• S&P Dow Jones IndicescoreOthers · 8 June 2026SiriusXM Holdings added to S&P MidCap 400, S&P 1000, S&P Composite 1500, and S&P 400 Communication Services sector indices effective June 11, 2026 (replacing Masimo Corp. which is being acquired by Danaher). Increases visibility and institutional investor liquidity.
• SnowflakecoreTechnology or Integration · 5 June 2026SiriusXM and Snowflake discussed at Snowflake Summit 2026 how AI and audio audience intelligence enable personalized media experiences. Snowflake's Cortex Sense tool and Customer 360 view power better audience targeting and content personalization.
• FOX Weather (Fox News Media)minorChannel Partner/ Reseller/ Distributor · 3 June 2026FOX Weather distribution expanded to SiriusXM channel 799 (app and 360L vehicles in North America) starting June 3, 2026, coinciding with hurricane season. Available as free-to-air public service during major weather events.
• Tubi (Fox Corporation)coreChannel Partner/ Reseller/ Distributor · 2 June 2026Non-exclusive podcast distribution deal bringing video episodes of SiriusXM podcasts including 'Conan O'Brien Needs A Friend' and 'Rotten Mango' to Tubi's free ad-supported streaming platform; SiriusXM may pursue additional streaming partnerships while keeping shows on YouTube.
• Lexus (Toyota) / AT&TcoreOEM/ Whitelabel/ Licensing Partner · 11 May 2026Lexus launched 2026 Lexus Interface multimedia system with AT&T 5G connectivity and embedded voice assistant ('Hey Lexus'), debuting in 2026 Lexus ES. SiriusXM is a core embedded infotainment app within automotive OEM multimedia systems.
• iHeartMediaflagshipStrategic or Co-development Partner · 24 April 2026Early-stage merger discussions (advised by Irving Azoff and Apollo Global Management) to combine largest U.S. terrestrial radio network (>860 stations) with largest satellite radio provider (33M subscribers). Combined entity would generate >$12B in revenue, create the largest podcast operation in U.S., and face roughly $15B in combined debt plus regulatory hurdles. Talks stalled June 2026 over broadcast station divestiture requirements.
• YouTube / GoogleflagshipStrategic or Co-development Partner · 22 April 2026Landmark exclusive partnership making SiriusXM Media the sole audio advertising representative for YouTube in the U.S. effective fall 2026. Powered by AdsWizz ad-tech platform, gives advertisers access to guaranteed audio ad impressions against YouTube's 212M+ monthly U.S. audio listeners plus SiriusXM Media's 255M monthly listeners.
• ABC NewsminorChannel Partner/ Reseller/ Distributor · 20 April 2026SiriusXM and ABC News jointly launched two new audio channels expanding news programming distribution on the platform.
• Sebastian ManiscalcocoreStrategic or Co-development Partner · 13 April 2026Multi-year deal signed with comedian Sebastian Maniscalco to launch exclusive SiriusXM comedy channel 99 ('Sebastian Maniscalco's Comedy Radio'), replacing SiriusXM Raw Comedy, with flagship show premiering April 28 and video episodes on YouTube.
• BTS (HYBE)minorStrategic or Co-development Partner · 20 March 2026Pop-up BTS Radio channel on SiriusXM channel 79 (in cars through March 26, app through April 18, 2026) coincided with BTS album ARIRANG release and reunion tour; exclusive behind-the-scenes content from all seven members.
• Team Coco (Conan O'Brien)flagshipStrategic or Co-development Partner · 23 May 2022SiriusXM acquired Team Coco podcast network for $150 million including 'Conan O'Brien Needs a Friend' podcast and related media assets. Five-year talent agreement with Conan O'Brien to host his podcast and produce a new Team Coco comedy channel for SiriusXM, expanding brand reach and comedy content.
• T-MobilecoreGTM or Marketing PartnerT-Mobile offers postpaid mobile and home internet customers free SiriusXM for 6 months and Pandora Premium for 4 months as part of eligible wireless plan perks.
• Irving AzoffcoreStrategic or Co-development PartnerMusic industry veteran Irving Azoff advising SiriusXM alongside Apollo on potential iHeartMedia acquisition; brings deep music industry relationships and M&A expertise.
• AdsWizz Inc. (SiriusXM subsidiary)flagshipTechnology or IntegrationAdsWizz is SiriusXM's owned ad-tech subsidiary powering the exclusive YouTube audio ad sales partnership and programmatic audio advertising globally. Provides targeting, measurement, and guaranteed impressions at scale across audio inventory.
• The Weather Company (TWC / IBM)coreTechnology or IntegrationThe Weather Company supplies weather information for SiriusXM Marine Weather service, combining NOAA data with other government, research, commercial, and proprietary sources for >25 years.
• GarmincoreOEM/ Whitelabel/ Licensing PartnerGarmin GXM 54 receiver delivers SiriusXM Marine weather, Fish Mapping (Garmin-oceanographer-curated), and SiriusXM entertainment to Garmin multifunction displays. Garmin hardware required for Fish Mapping subscription activation.
• Alex Cooper / Unwell NetworkcoreStrategic or Co-development Partner$125M SiriusXM deal with Alex Cooper (Call Her Daddy host, founder of Unwell Network) signed in 2024. Powers exclusive Alex Cooper-curated 'Unwell Music' channel (CH 3) and SiriusXM podcast distribution of her flagship show.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Spotify: Largest global music streaming subscription service. Directly comparable to Pandora and the streaming tier of SiriusXM in ad-supported and premium audio streaming, and competes for the same consumer audio time-share and ad budgets.
• iHeartMedia: Largest U.S. terrestrial radio operator with 860+ stations and a major podcast business. The explicit counterpart in the collapsed SiriusXM-iHeart merger discussions; competes directly for ad dollars and audio listener share across radio and podcasts.
• Audacy (formerly Entercom/CBS Radio): Major U.S. terrestrial radio broadcaster with a sizable podcast portfolio (Audacy, Cadence13, Pineapple Street). Direct competitor in broadcast radio ad sales, podcast advertising, and audio listener reach.

Broad incumbents

• Apple Music / Apple Podcasts: Apple's music streaming and podcast platforms, embedded in iOS and the dominant podcast app on iPhone. Competes with SiriusXM/Pandora in streaming subscriptions and with SiriusXM Podcast+ in podcast distribution and discovery.
• Amazon Music / Wondery: Amazon's music streaming service (bundled with Prime) and podcast operation via Wondery. Competes in subscription streaming, ad-supported streaming, and exclusive podcast content adjacent to SiriusXM's Pandora and Podcast Network.
• YouTube Music / YouTube (Google): Google's music streaming service and the YouTube audio inventory that SiriusXM Media now exclusively sells advertising against in the U.S. Competes in streaming and podcasting while also being a major channel partner.

Emerging players

• LiveOne: U.S. music streaming and live events company (LiveXLive, PodcastOne, Slacker Radio). Smaller-scale direct competitor in ad-supported streaming and podcasting with overlapping advertiser and content targets.
• TuneIn: Internet radio aggregator streaming 100,000+ stations plus sports, news, and music. Adjacent competitor for in-car and connected-device listening time, particularly relevant given SiriusXM's automotive OEM distribution.

Others

• The Trade Desk: Leading independent programmatic ad-buying platform. Comparable via the audio/digital ad-tech ecosystem in which AdsWizz competes and partners, and a reference point for valuing SiriusXM's programmatic audio capabilities.
• Garmin: Marine, aviation, and consumer GPS hardware maker that integrates SiriusXM Marine and Fish Mapping into its chartplotters and provides the oceanographic data behind Fish Mapping. Key OEM-style distribution partner rather than a competitor.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat6 records

Key risks2 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/siriusxmaviation
• Xx.com/siriusxm
• Facebookfacebook.com/siriusxm
• LinkedInlinkedin.com/company/siriusxm

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries6 records

Funding overview

Funding rounds4 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A11 records

Investments5 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sirius XM