Exhibit 99.1
SiriusXM Reports Fourth Quarter and Full Year 2020 Results
SiriusXM Self-Pay Net Subscriber Additions of 909,000 For The Year
Revenue of $8.04 Billion in 2020
Full Year Net Income of $131 Million; Diluted EPS of $0.03 or $0.25, Excluding $976 Million Non-Cash Impairment Charge
2020 Adjusted EBITDA Hits Record $2.58 Billion, Up 6%
Capital Returns Totaled $1.81 Billion in 2020; SiriusXM Confirms 2021 Guidance

NEW YORK – February 2, 2021 –
SiriusXM today announced fourth quarter and full year 2020 operating and financial results, including revenue of $2.19 billion and $8.04 billion, respectively, an increase of 6% and 3%, respectively, compared to the prior year periods. The company recorded a net loss of $677 million in the fourth quarter of 2020 while full year net income totaled $131 million, down from $914 million for the full year in 2019. The decrease in net income was a result of a $976 million non-cash impairment charge associated with Pandora. Net income per diluted common share was $0.03 for the full year, compared to $0.20 in the prior year period.

Full year net income, excluding the effect of the impairment, was approximately $1.11 billion, or $0.25 per diluted common share. Adjusted EBITDA grew to $2.58 billion in 2020, an increase of approximately 6% from $2.43 billion in 2019.

“SiriusXM turned in strong operating and financial results in 2020: we grew SiriusXM self-pay subscribers, revenue, adjusted EBITDA, and free cash flow despite the pandemic. Our new car penetration reached approximately 80% in the fourth quarter and is set to rise above 80% this year, and the incorporation of 360L, our next generation in-car entertainment platform, is accelerating,” said Jennifer Witz, Chief Executive Officer of SiriusXM. Ms. Witz became CEO of SiriusXM on January 1, 2021, succeeding Jim Meyer upon his retirement.

“SiriusXM, Pandora and Stitcher, together with our investment in SoundCloud, now reach an audience of more than 150 million people. We are bolstering our position as North America's leading audio entertainment company with new innovative talk shows and podcasts, streaming music channels targeting younger audiences, and extended deals with major media brands, such as NBCUniversal News Group. We signed an exclusive audio agreement with The Masters and secured additional digital sports rights with the NFL and NBA to benefit our streaming products. We are also thrilled Howard Stern extended his agreement to continue live broadcasts of his amazing show," added Witz.


"The tremendous reach of SiriusXM’s platforms, the company’s unique business model, and the quality of its people attracted me to join the company last fall as CFO. All of these attributes have been affirmed in the past three months since I came on board, and it has been a pleasure to partner with Jennifer as she made the transition to CEO," said Sean Sullivan, Chief Financial Officer of SiriusXM. Mr. Sullivan became CFO of SiriusXM on October 26, 2020.

"SiriusXM returned approximately $1.81 billion to stockholders in 2020, including $1.57 billion of share repurchases and $237 million of dividends. As previously announced, we increased the regular quarterly dividend by 10% in November for the fourth consecutive year. During the fourth quarter, we opportunistically accelerated the pace of common stock repurchases to $680 million and closed on our acquisition of Stitcher. At the end of the fourth quarter, SiriusXM's debt to adjusted EBITDA ratio was 3.3x, and we have tremendous liquidity to continue investing in the business and returning capital to stockholders," added Sullivan.

The following information was filed by Sirius Xm Holdings Inc. (SIRI) on Tuesday, February 2, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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