Sirius XM Holdings Unlocks Podcasting Momentum—Can 50% Ad Growth Offset Streaming Slowdowns?

Sirius XM, a leading audio entertainment company, reported its third quarter 2025 financial results, showcasing a mix of stable revenue figures, strategic expansions, and some challenges in subscriber trends. Amid a backdrop of evolving industry dynamics, Sirius XM’s performance and strategic movements highlight the company’s ongoing efforts to maintain and grow its market position. For the quarter, Sirius XM reported total revenue of $2.16 billion, essentially flat compared to the previous year. Subscriber revenue saw a minor decline, attributed to a modest decrease in the average subscriber base, while advertising revenue grew slightly, benefiting notably from the podcasting segment. The company achieved an adjusted EBITDA of $676 million, which, although down by 2% year-over-year, reflected a solid margin of 31%.