"Slightly higher churn" from the impact of auto sales in the first quarter overshadowed the company's revenue, which beat analysts' expectations.
Full-year revenue dropped 0.6% to $8.95 billion while adjusted EBITDA fell 2% to $2.8 billion.
The company said it lost 96,000 self-pay subscribers in the quarter, but total subscribers held flat at 34 million as it prepares to unveil a new app.
In a new filing, the satellite-radio giant says SoundExchange’s “so-called audit” is “flawed" and claims SiriusXM has paid all of the royalties it owes.