Annual report pursuant to Section 13 and 15(d)

Segments and Geographic Information (Tables)

v3.24.4
Segments and Geographic Information (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
Segment revenue and gross profit were as follows during the periods presented:
For the Year Ended December 31, 2024
Sirius XM Pandora and Off-platform Total
Revenue
Subscriber revenue $ 6,076  $ 540  $ 6,616 
Advertising revenue 167  1,606  1,773 
Other revenue 310  —  310 
Total revenue 6,553  2,146  8,699 
Cost of services
Revenue share and royalties
 $ (1,565) $ (1,270) $ (2,835)
Programming and content (a)
(517) (58) (575)
Other (a)(b)
(560) (113) (673)
Total cost of services
 (2,642) (1,441) (4,083)
Segment gross profit $ 3,911  $ 705  $ 4,616 
For the Year Ended December 31, 2023
Sirius XM Pandora and Off-platform Total
Revenue
Subscriber revenue $ 6,342  $ 524  $ 6,866 
Advertising revenue 169  1,589  1,758 
Other revenue 329  —  329 
Total revenue 6,840  2,113  8,953 
Cost of services
Revenue share and royalties $ (1,603) $ (1,292) $ (2,895)
Programming and content (c)
(518) (66) (584)
Other (c)(d)
(568) (117) (685)
Total cost of services
 (2,689) (1,475) (4,164)
Segment gross profit $ 4,151  $ 638  $ 4,789 
For the Year Ended December 31, 2022
Sirius XM Pandora and Off-platform Total
Revenue
Subscriber revenue $ 6,370  $ 522  $ 6,892 
Advertising revenue 196  1,576  1,772 
Other revenue 339  —  339 
Total revenue 6,905  2,098  9,003 
Cost of services
Revenue share and royalties $ (1,552) $ (1,250) $ (2,802)
Programming and content (e)
(514) (56) (570)
Other (e)(f)
(575) (137) (712)
Total cost of services
 (2,641) (1,443) (4,084)
Segment gross profit $ 4,264  $ 655  $ 4,919 
Schedule of Reconciliation of Revenue from Segments to Consolidated
The reconciliation between reportable segment gross profit to consolidated loss before income tax is as follows:
For the Year Ended December 31, 2024
Segment Gross Profit $ 4,616 
Subscriber acquisition costs (369)
Sales and marketing (a)
(849)
Product and technology (a)
(252)
General and administrative (a)
(432)
Depreciation and amortization (578)
Share-based payment expense (200)
Impairment, restructuring and acquisition costs (3,453)
Total other (expense) income (348)
Consolidated loss before income taxes
 $ (1,865)
(a)     Share-based payment expense of $46 related to cost of services, $45 related to sales and marketing, $44 related to product and technology and $65 related to general and administrative has been excluded for the year ended December 31, 2024.
(b)    Sirius XM other costs of services related to customer service and billing of $364, transmission costs of $186 and cost of equipment of $10. Pandora other costs of services related to customer service and billing of $79 and transmission costs of $34.
The reconciliation between reportable segment gross profit to consolidated income before income tax is as follows:
For the Year Ended December 31, 2023
Segment Gross Profit $ 4,789 
Subscriber acquisition costs (359)
Sales and marketing (c)
(886)
Product and technology (c)
(276)
General and administrative (c)
(541)
Depreciation and amortization (624)
Share-based payment expense (203)
Impairment, restructuring and acquisition costs (92)
Total other (expense) income (598)
Consolidated income before income taxes $ 1,210 
(c)     Share-based payment expense of $45 related to cost of services, $45 related to sales and marketing, $46 related to product and technology and $67 related to general and administrative has been excluded for the year ended December 31, 2023.
(d)    Sirius XM other costs of services related to customer service and billing of $388, transmission costs $166 and cost of equipment $14. Pandora other costs of services related to customer service and billing of $83 and transmission costs $34.
The reconciliation between reportable segment gross profit to consolidated income before income tax is as follows:
For the Year Ended December 31, 2022
Segment Gross Profit $ 4,919 
Subscriber acquisition costs (352)
Sales and marketing (e)
(1,023)
Product and technology (e)
(246)
General and administrative (e)
(491)
Depreciation and amortization (611)
Share-based payment expense (209)
Impairment, restructuring and acquisition costs (68)
Total other (expense) income (433)
Consolidated income before income taxes $ 1,486 
(e)     Share-based payment expense of $46 related to cost of services, $52 related to sales and marketing, $39 related to product and technology and $72 related to general and administrative has been excluded for the year ended December 31, 2022.
(f)    Sirius XM other costs of services related to customer service and billing of $409, transmission costs $153 and cost of equipment $13. Pandora other costs of services related to customer service and billing of $82 and transmission costs $55.