SiriusXM’s Q1 2026 financial report shows a 1% revenue rise year-over-year to $2.09 billion and 20% net income gain to $245 Million.
SiriusXM’s adjusted EBITDA grew 6% to $666 million. The 1% revenue growth came from higher subscriber revenue through rate increases on certain self-pay plans partially offset by a slightly lower average subscriber base and softer advertising demand on its news channels. Podcasting revenue was up 37% helping all advertising revenue increase by 5% to $372 million.
Self-pay SiriusXM subscriptions dropped by 111,000, which the company said its monthly churn of 1.5% was the lowest Q1 in company history. Pandora subscription revenue was down 2% to $129 million due to a lower subscription base with 40.1 million monthly active users and 5.6 million paid subscribers.
SiriusXM CEO Jennifer Witz said, “We are off to a strong start in 2026, delivering growth in both revenue and profitability while executing with discipline against our strategic priorities. In the first quarter, we increased year-over-year subscriber net additions, grew ARPU, and achieved the lowest first-quarter churn on record. Our latest proprietary subscriber satisfaction study delivered the highest scores since its inception, reinforcing the strength of our value proposition. We also significantly enhanced our advertising capabilities through our landmark partnership with YouTube. This strong execution, combined with continued enhancements to our content offering and deeper listener engagement underscores the resilience of our model and positions us well to deliver sustainable long-term value for shareholders.”
Chief Financial Officer Zac Coughlin followed, “Our first-quarter performance reflects strong execution, with top-line growth, expanding margins, and a notable improvement in earnings and free cash flow. We are making solid progress on our cost efficiency initiatives while strengthening our balance sheet and allocating capital with discipline. As we navigate a more dynamic macroeconomic backdrop our priorities remain clear: achieving our target leverage range of low-to-mid 3x and driving continued free cash flow growth toward our $1.5 billion 2027 objective.”
