Welcome to our dedicated page for Sirius XM Holdings news (Ticker: SIRI), a resource for investors and traders seeking the latest updates and insights on Sirius XM Holdings stock.
Sirius XM Holdings Inc. (NASDAQ: SIRI) is the largest audio entertainment company in North America, boasting a portfolio of audio businesses that cater to a wide range of listener preferences. With 27.3 million subscribers, SiriusXM delivers commercial-free music, premier sports and live events, news, comedy, exclusive talk and entertainment, and the most comprehensive lineup of Latin commercial-free music, sports, and talk programming in radio.
The company is composed of two main businesses: SiriusXM and Pandora. SiriusXM transmits music, talk shows, sports, and news via its two satellite radio networks, primarily to consumers in vehicles who pay a subscription fee. SiriusXM radios come preinstalled in a wide range of light vehicles across the US and Canada. Additionally, listeners can personalize SiriusXM’s expertly curated commercial-free music channels using MySXM and access thousands of hours of programming on demand through SiriusXM On Demand.
Pandora, acquired by Sirius XM Holdings in February 2019, is a streaming music platform that offers both an ad-supported radio option and a paid on-demand service. It also features a robust and growing podcast library, further expanding the company's content offerings. Pandora's ad-supported service generates significant revenue from advertisements, while its premium service offers an ad-free experience for users.
Sirius XM Holdings is controlled by Liberty Media, which owns 84% of the company, traded through its Liberty Sirius XM Group tracking stock. Reaching a combined monthly audience of approximately 150 million listeners, SiriusXM and Pandora offer diverse and expansive content across various genres and interests.
Recent developments include SiriusXM's acknowledgment of a non-binding proposal from Liberty Media regarding a potential transaction involving the company, which is currently being evaluated by a special committee of independent directors.
In August 2023, SiriusXM reported its operating and financial results for the second quarter of 2023, and similar updates were provided for the third quarter in October 2023, the full year 2023 in February 2024, and the first quarter of 2024 in April 2024. These results can be accessed on the Investor Relations section of the SiriusXM website.
In addition, SiriusXM unveiled a new streaming app set to roll out in December 2023, alongside a refreshed brand platform and a newly-priced Streaming All Access Plan aimed at attracting a new generation of listeners. The new app promises a more personalized, easy-to-use, and discovery-focused streaming experience.
SiriusXM continues to innovate and expand its distribution agreements with automotive manufacturers and other industry players to enhance its offerings and reach more potential subscribers.
For more information about SiriusXM, visit their website.
SiriusXM reported third quarter 2020 results with revenue of $2.025 billion, up 1% year-over-year, and a net income increase of 11% to $272 million. Adjusted EBITDA also rose 1% to $661 million. The company anticipates robust performance with increased full-year guidance for self-pay net subscribers and overall revenue. SiriusXM's new car penetration rate improved to 78%, while advertising revenue at Pandora declined 3%. The firm executed $486 million in stock repurchases, alongside a dividend increase of 10%.
Sirius XM Holdings (NASDAQ: SIRI) has completed the acquisition of Stitcher, a significant player in podcasting, enhancing its audio entertainment platform. With this acquisition, SiriusXM aims to dominate the fast-growing podcasting sector by integrating Stitcher's programming and ad networks with its existing services. The move is expected to create a comprehensive audio ecosystem, reaching over 150 million listeners and further expanding SiriusXM's advertising capabilities. This acquisition positions the company for growth in digital audio and podcasting.
SiriusXM has announced that its audio entertainment service will be standard in all BMW vehicles sold in the U.S. starting with the 2021 model year. BMW owners will receive a 12-month subscription to the SiriusXM All Access package. This partnership extends through 2026 and also includes standard features in Rolls Royce models and BMW motorcycles. New BMW models feature SiriusXM with 360L, enhancing in-vehicle entertainment by combining satellite and streaming services. This deal represents a strategic growth opportunity for SiriusXM.
SiriusXM and Pandora are launching exclusive Halloween-themed programming starting October 15, 2020, to help families celebrate during the pandemic. Highlights include SiriusXM's Scream Radio with haunted tunes, scary stories, and a top 50 Halloween song countdown, running until October 31. Pandora introduces new Halloween stations and playlists, featuring a hosted 'slaylist' from music trio LVCRFT. Additional virtual specials include Jenny McCarthy's Halloween Hollywood Séance and a discussion on horror films by Jim Norton. SiriusXM offers a variety of ways to listen, including mobile apps and connected devices.
Pandora has launched the Endless Playlist, featuring artists like Alicia Keys and Billie Eilish. This unique playlist allows artists to share their favorite tracks along with personal messages, fostering a collaborative music experience. It will be updated continuously, creating a dynamic musical journey. Listeners can access the playlist via Pandora Premium or unlock it through ads on Pandora Plus. As part of SiriusXM, Pandora aims to enhance engagement between artists and fans.
SiriusXM's The Beatles Channel is celebrating John Lennon's 80th birthday on October 9 with special programming featuring guests like Paul McCartney and Alec Baldwin. Listeners can enjoy exclusive tributes, including a special show with McCartney reflecting on Lennon’s legacy, airing at 11:00 am ET, 4:00 pm ET, and 9:00 pm ET. The weekend will also include various programs highlighting Lennon’s music and impact, available on the SiriusXM app after airing.
SiriusXM declared a quarterly cash dividend of $0.014641 per share, marking a 10% increase from the previous quarter. This dividend is payable on November 30, 2020, to stockholders of record by November 6, 2020. Since initiating its regular quarterly dividend in November 2016, SiriusXM has increased the dividend for the fourth consecutive year. The dividend increase highlights the company's commitment to returning value to shareholders.
SiriusXM is set to release its third quarter 2020 financial results on October 22, 2020. A conference call will occur at 8:00 am ET on the same day for discussion of these results, accessible via the company's investor website.
The company is a leading audio entertainment service in the U.S., reaching over 100 million people monthly through its platforms including Pandora. The press release also includes cautionary remarks regarding potential impacts from the ongoing COVID-19 pandemic and competitive pressures.
SiriusXM announced a new weekly show, Forward Progress, airing across multiple channels, focusing on race, society, and sports. Hosted by Jason Jackson and Kirk Morrison, the show highlights athletes' roles in promoting racial equality and social reform. It aims to facilitate ongoing dialogues about systemic issues in America related to race and sports, inviting guests from various sports backgrounds to contribute. The program will air on channels like SiriusXM Urban View and NBA Radio, and will also be available as a podcast on SiriusXM and Pandora.
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