US satellite radio firm SiriusXM has published its financial results for the first quarter of 2023. They showed a slight decline in its revenues: down 1.9% year-on-year to $2.14bn.
The company ended March with just over 34 million subscribers for its radio service: a rise of just 0.2%.
Stop us if you’ve heard this one before: SiriusXM is still struggling to turn around the long-term listener decline of its streaming service Pandora. The latter ended March with 46.7 million monthly active users, down from 50.6 million this time last year.
In recent times, the silver lining has been that Pandora’s revenues were still growing, but that trend has dropped off too. The streaming service generated $462m of revenue in Q1, down from $467m a year ago.
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