Strong Subscription Business Performance
The subscription business showed solid year-over-year improvement in self-pay net ads, driven by positive trends in the in-car business, which offset a reduction in streaming net ads.
Increased Engagement and Customer Satisfaction
There was a minimal churn impact from a full price rate increase, with reduced in-car churn due to lower cancel demand and non-pay, and the highest quarterly customer satisfaction on record.
Growth in Podcasting Revenue
Podcasting revenue increased by 33% year-over-year, with nearly 1 billion downloads and an audience of 70 million monthly podcast listeners.
Cost Reduction and Efficiency Improvements
The company reduced costs by over $30 million, contributing to lower expenses across marketing, product and technology, transmission, customer service, and G&A.