SiriusXM Q3 Revenue Edges Down, Subscriber Count Holds Steady at 33 Million

SiriusXM reported third-quarter revenue of $2.153 billion, just down from $2.16 billion in the prior year period, and net income of $317 million, up 7 percent from net income of $297 million a year-ago.

Also Thursday, the satellite radio company posted adjusted EBITIDA rising 3 percent to $694 million, due to reduced expenses and programming costs. SiriusXM added 5,000 paid subscribers in the third quarter to hold steady at 33 million total subscribers, with a monthly churn of 1.5 percent as the satellite cable company focuses on shoring up its subscriber base.

That compares with 40,000 subscribers lost in the same period of 2025, and a churn rate of 1.6 percent. On the revenue side, subscriber revenue was steady at $1.63 billion, against a year-earlier $1.629 billion, while advertising revenue came to $456 million, virtually unchanged from $455 million in the same period of 2025.

“Our third quarter performance reflects the progress we’re making in building a stronger, more durable SiriusXM,” Jennifer Witz, CEO of SiriusXM HM Holdings, said in a statement that accompanied her latest financial results. “We’re stabilizing our subscriber base, deepening engagement through differentiated content and experiences, and expanding the reach and capabilities of our advertising platform.”

Witz on a morning analyst call said efforts to reduce audience churn were ongoing. “We have continued opportunities to improve on this, because we’re just getting started using all the data that we’re getting back from 360L, and the objective there is to make sure that customers feel that their subscriptions have high value.”

On the subscribers front, Witz argued SiriusXM was more focused on subscriber revenue than just the number of subscribers quarter to quarter as it looks to “stabilize” the base. Witz also talked about using artificial intelligence-based agents for customer interactions over accounts: “AI is going to be obviously a potential for disruption, but it also is an opportunity for us to continue to improve the customer experience, whether it’s in our customer interactions or more broadly across our business.”

On the content side, SiriusXM has signed a new multiyear deal with Howard Stern, extended its agreement with Andy Cohen, renewed its agreement with Megyn Kelly and Stephen A. Smith debuted on the platform.

SiriusXM has struck deals with a slew of podcasters and hosts in recent years as it has sought to diversify its roster of talent. SiriusXM said its third quarter average listening time rose 5 percent year—over-year to reflect new content discovery and deeper engagement with favorite stations.

Scott Walker, chief revenue officer at Sirius XM, talked about his company representing audio ad sales for YouTube’s audio-first inventory, including music, podcasts, and talk shows. “This is an opportunity, as we bring this massive, incremental reach. That allows us to tap into new advertisers and target new audiences and aggregate that through an audience-based buy.”