Liberty SiriusXM, Liberty Formula One Help Liberty Media Clock 51% Revenue Growth

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  • Liberty Media reported second-quarter FY21 consolidated revenue growth of 50.7% year-on-year to $2.88 billion.
  • Liberty SiriusXM Group revenue increased 15% Y/Y to $2.16 billion. SiriusXM self-pay net subscriber additions grew 34% Y/Y to 355,000.
  • Liberty SiriusXM Group LSXMA owned 78% of Sirius XM Holdings Inc SIRI as of Jul. 23.
  • Liberty Formula One Group's FWONA revenue was $501 million, up from $24 million a year ago.
  • Baseball helped Braves Group generate $216 million in revenue, up from $11 million a year ago.
  • Liberty Media's operating income improved 190.7% Y/Y to $622 million. Liberty SiriusXM's operating income grew 66% Y/Y to $634 million.
  • Liberty Media's adjusted OIBDA improved 48.1% Y/Y to $813 million. Liberty SiriusXM's adjusted OIBDA improved 16% Y/Y to $697 million.
  • Liberty Media posted positive net earnings of $417 million. Liberty SiriusXM's net earnings were $337 million.
  • Liberty Media held $4 billion in cash and equivalents, including Liberty Sirius XM's $1.55 billion and Formula One's $2.23 billion.
  • Liberty Media generated $1.2 billion in operating cash flow, including $875 million from Liberty SiriusXM and $312 million from Formula One.
  • SiriusXM produced outstanding results and recently increased its 2021 guidance, Liberty Media CEO Greg Maffei stated.
  • Formula One is on track for its fans, teams, partners, and investors and has done an impressive job steering through the 2021 calendar. 
  • The Braves are competitive on the field and lead MLB in total attendance, with over 1.5 million fans returning to Truist Park so far this season.
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