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This statistic highlights Sirius XM’s Revenue Breakdown Worldwide split across subscriber revenue, advertising revenue, equipment revenue, and other revenue, reported on a quarterly basis from Q1 2018 onwards.
|Segment||Q4 2020||Q3 2021||Q4 2021||Contribution of Q4 2021|
All values are in millions, except percentages
The 4 subcategories of Sirius XM’s Revenue are explained as follows:
Fees charged for self-pay and paid promotional subscriptions, as well as U.S. Music Royalty Fees and other ancillary fees, make up Sirius XM Subscriber Revenue.
Subscriber revenue was $6,084 million and $5,857 million for the years ending December 31, 2021 and 2020, respectively, marking an increase of 4%, or $227 million. The rise was mostly due to a 4% increase in the company’s self-pay subscriber base, which resulted in greater self-pay income and U.S. Music Royalty Fees, which were slightly offset by decreased revenue from automakers offering paid promotional memberships.
Subscription revenue is expected to rise as the company’s subscriber base grows, the average price paid rises, and new services are sold to customers.
The sale of advertising on Sirius XM’s non-music channels is included in Sirius XM Advertising Revenue.
Advertising revenue was $188 million and $157 million for the years ending December 31, 2021 and 2020, respectively, an increase of 20%, or $31 million. As the company continues to recover to pre-COVID-19 levels. The rise was attributed to more advertising, mainly on news and sports networks.
As they recover to pre-COVID-19 levels, the company anticipates their advertising income to rise.
Revenue and royalties from the sale of satellite radios, components, and accessories are included in Sirius XM Equipment Revenue.
Equipment revenue was $201 million and $173 million for the years ending December 31, 2021 and 2020, respectively, an increase of 16%, or $28 million. Higher royalty revenue from new vehicle production during the first half of 2021, as automakers pushed to get back to pre-COVID-19 manufacturing levels led to an increase. The transition to a new generation of chipsets, partially offset by semiconductor supply shortages in the second half of 2021, drove the increase.
As a result of the semiconductor supply limitations, the business anticipates equipment revenue to decline.
Sirius XM Other income comprises Sirius XM Canada’s service and advisory revenue, money from linked car services, and auxiliary revenue.
Other revenue was $151 million and $155 million, respectively, for the years ended December 31, 2021 and 2020, indicating a reduction of 3%, or $4 million. Lower revenue from rental vehicle agreements was the primary cause of the drop.
Other revenue is expected to fall as revenue from linked car services drops, somewhat offset by an expected increase in royalties from Sirius XM Canada.
About the company
Based in the United States, Sirius XM business offers subscription-based music, sports, entertainment, comedy, discussion, news, traffic, and weather channels, as well as podcasts and infotainment services. Select exclusive and on-demand programs are included in Sirius XM’s premium content bundles as well as live and curated content. The company has two unique satellite radio systems that deliver the Sirius XM service, which is streamed via apps for mobile devices, home devices, and other consumer electronic equipment. Automakers, merchants, and websites are the primary sources of satellite radios. The Sirius XM service is also available via the “360L” user interface, which merges satellite and streaming services into a single, seamless in-vehicle entertainment experience.
Sirius XM’s primary source of revenue is subscription fees, with the majority of its listeners choosing monthly, quarterly, semi-annual, or yearly subscriptions. Advertising on non-music channels, direct sales of satellite radios and accessories, and other auxiliary services all contribute to the company’s bottom line. Sirius XM had over 34 million customers as of December 31, 2021.
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