Howard Stern has extended his flagship radio show on Sirius XM for an additional three years, keeping the program on the air through 2028. The extension follows a series of prior deals in 2010, 2015 and 2020, each of which secured Stern’s presence for five years and brought the host’s contract value into the $450‑$600 million range.
Sirius XM has not disclosed the financial terms of the new agreement, but the company’s leadership emphasized that the deal will provide the broadcaster with “more free time” and a “more flexible schedule,” allowing Stern to reduce his weekly airtime while maintaining the high‑profile flagship slot that drives a significant portion of the company’s paid‑subscriber base.
Sirius XM reported 33 million paid subscribers in the third quarter of 2025. A 15% share of that base—approximately 4.95 million customers—could be retained by keeping Stern on the air, a figure that corrects the earlier estimate of 2.7 million. The retention of these subscribers is critical as the company’s paid‑subscriber count has been contracting by about 100,000 year‑over‑year, underscoring the strategic importance of Stern’s continued presence.
Financially, Sirius XM posted third‑quarter revenue of $2.16 billion, down 1% from the prior year, and net income of $297 million. Free cash flow reached $257 million, and the company has raised its full‑year 2025 guidance for revenue, adjusted EBITDA and free cash flow. The contract extension is positioned as a key lever to stabilize subscriber growth and support the company’s broader strategy of expanding its streaming app and podcast portfolio in a market increasingly dominated by ad‑supported services such as Spotify and Apple Podcasts.
Management comments highlight the confidence behind the renewal. CEO Jennifer Witz noted that the company is “increasing our full‑year 2025 guidance by $25 million across revenue, EBITDA and free cash flow” and that the renewal will help maintain momentum in a competitive audio landscape. CFO Tom Barry emphasized that disciplined cost management has allowed Sirius XM to invest in engagement and ad monetization while preserving margins.
Howard Stern himself said, “I’m happy to announce that I’ve figured out a way to have it all: more free time and continuing to be on the radio. So, yes, we’re coming back for three years.” His statement reflects the balance between maintaining a high‑profile show and allowing the host to reduce his workload, a move that could help sustain long‑term audience engagement.
The combination of a high‑profile talent renewal, a stable subscriber base, and a company that is raising its financial guidance signals a positive outlook for Sirius XM’s core subscription business amid a competitive streaming environment.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.