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SIRI Revenue by Segments

Revenue by Segments

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In Q2'25, Sirius XM generated $1.614B in revenue, while Pandora and Off-platform contributed $524M, resulting in a combined segment total of $2.138B for SIRI. This marks a slight uptick from Q1'25's $1.581B and $487M, respectively, though Sirius XM's portion remains the dominant driver at approximately 75% of the total. Over the period from Q4'22 to Q2'25, Sirius XM revenue has shown a gradual decline from $1.725B to $1.614B, with notable stability around $1.7B in 2023 before dropping more sharply to $1.581B in Q1'25. Pandora and Off-platform fluctuated between $462M and $573M, trending downward overall but rebounding to $524M in Q2'25; the Sirius XM segment consistently accounts for 70-80% of total revenue, underscoring its core importance amid segment-specific volatility.