SiriusXM reported significant subscriber losses in Q1 2024, with 445,000 total subscribers leaving the platform - a sharp increase from the 281,000 loss in Q1 2023. The company's Pandora service also experienced a decline of 64,000 self-pay subscribers during the same period.

Key Q1 2024 Results:

• Self-pay subscriber loss: 359,000 (vs 347,000 in Q1 2023)
• Paid promotional subscribers: Dropped 86,000 (vs 66,000 gain in Q1 2023)
• Revenue: $2.16 billion (up 1% from Q1 2023)
• Earnings: $265 million (7 cents per share)
• Advertising revenue: $402 million (up 7%)
• Subscription revenue: $1.68 billion (down 1%)

CEO Jennifer Witz acknowledged disruption from the new streaming app launch but expressed confidence in reaching younger audiences beyond traditional automotive listeners. The company's leadership is also preparing for a potential post-Howard Stern era, with President Scott Greenstein indicating they have strategies in place for future content direction.

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