Howard Stern getting pay cut
There has been buzz on the radio this summer that has all been about Howard Stern, and whether SiriusXM is dropping him via News Nation Now.
Stern will have to accept a “major” pay cut if he is to stay, as the outlet reported, with one adding: “That kind of money ($500 million) doesn’t make sense anymore with his numbers.”
As per The Hollywood Reporter, Scott Greenstein, President and Chief Content Officer and SiriusXM, spoke at a Bank of America conference on Wednesday and said he wanted Stern to stay at Sirius but added the deal would have to “make sense.”
Greenstein praised Howard Stern as one of their most valuable assets, calling him the best interviewer and a major driver of awareness and publicity for the service. He acknowledged that contract renewals at his level involve long negotiations but expressed optimism, noting they’ve successfully managed this process before and hope he stays on.
He said:
“So Howard, for all these years and right up until now, is as important a content, single piece of content as we’ve had from the sense of being a lightning rod to get awareness for the service and publicity and all of that. He’s the best interviewer out there, period, bar none. And we’ve always had a series, as all of you know, of renewals.
He added, “With any talent at that level, you’re always going to have an extended period of negotiations. We’ve been pretty lucky all these years. We’d love them to stay. It certainly has to make sense, but we feel pretty good that we’ve done this before, and we’ll see where it goes.”
“I think he’s been core to our platform for over 20 years. So I’m confident we’ll get to the right place,” CEO and director Jennifer Witz added.
Howard Stern’s Contract History
Howard Stern’s salary has been a lightning rod for decades, shaping both his reputation and SiriusXM’s business model. When Stern first shocked the industry by leaving terrestrial radio for satellite in 2004, his five-year deal with Sirius was reportedly worth $500 million. That staggering figure included stock options and was designed to instantly boost the fledgling satellite service’s subscriber base. It worked — millions signed up, crediting Stern’s move with saving Sirius from collapse.
In 2010, Stern re-upped with another five-year contract, this time estimated at around $400 million. While slightly smaller, it reflected the service’s maturation and Stern’s continued dominance as their marquee star. Another renewal followed in 2015, believed to be in the range of $80–100 million per year, keeping him on air while also expanding his show into video streaming for subscribers. By 2020, Stern signed his current five-year, $500 million deal — again averaging about $100 million annually, placing him among the highest-paid figures in all of broadcasting.
Now, with that contract set to expire in 2025, executives are signaling that the economics have shifted. Stern’s value to SiriusXM is undisputed, but the days of half-billion-dollar packages may be over.
