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 has raised its full-year 2020 guidance for self-pay subscriber net additions from 500,000 to approximately 700,000. This comes amid strong performance trends and robust demand for its audio services. The company's financial guidance for 2020 remains unchanged, projecting approximately $7.7 billion in revenue, $2.4 billion in adjusted EBITDA, and $1.6 billion in free cash flow. CEO Jim Meyer highlighted the positive influence of improving auto sales and a healthy subscription base as key drivers for growth.
SiriusXM has revealed its extensive coverage for the 2020 NFL season, starting with the kickoff on September 10. The platform will provide live broadcasts of all NFL games, accessible through radios, the SiriusXM app, and connected devices. Subscribers will enjoy specialized play-by-play channels, including Spanish-language broadcasts, and the 24/7 SiriusXM NFL Radio channel offering new shows like Silver & Black Radio and The SiriusXM Blitz. The expanded lineup includes notable hosts such as Brett Favre and Mike Haynes.
SiriusXM announced that Pat McAfee's The Pat McAfee Show will be exclusive to its Mad Dog Sports Radio channel starting September 9, 2020. McAfee, a former NFL star and popular media figure, will host the show live from Indianapolis every weekday from noon to 3:00 pm ET. SiriusXM's executives praised McAfee as a unique talent with significant audience appeal. The addition of his show marks a notable expansion for Mad Dog Sports Radio, which retains its existing programming lineup, featuring other popular shows throughout the day.
SiriusXM announced key presentations by executives at upcoming investor conferences. CEO Jim Meyer will present digitally at the BofA Securities 2020 Media, Communications & Entertainment Conference on September 9 at 11:40 am ET. CFO David Frear will present at the Goldman Sachs Communacopia Conference on September 15 at 8:50 am ET. Audio webcasts of both events will be accessible via the Investor Relations section of SiriusXM's website. The company continues to lead in audio entertainment, reaching over 100 million people monthly.
SiriusXM and Bell announced a partnership where Bell will offer a three-month subscription to SiriusXM's aviation weather, information, and audio services with each new rotor wing aircraft purchase. This service includes SiriusXM's top-tier aviation weather features and the All Access audio package for popular Bell models like the Bell 407GX, 429, and 525. This collaboration aims to provide Bell pilots with superior weather data and entertainment options during flights, enhancing operational efficiency and passenger experience.
Sirius XM Connected Vehicle Services and RapidSOS have announced a partnership to enhance emergency response by automatically transmitting vehicle crash data to 911 services. This integration allows quicker notifications and provides critical information regarding the incident's nature and severity, improving response times. Sirius XM's ACN+ technology, implemented in over 10 million vehicles, will now be able to send data like location, airbag status, and crash impact directly to emergency responders. This advancement aims to improve public safety and efficiency in emergency scenarios.
SiriusXM announced that David Frear, Senior Executive Vice President and CFO, will present at the BofA Securities Best of SMID Cap Ideas for 2H 2020 Conference on August 12, 2020, at approximately 10:00 am ET. An audio webcast will be available on the Investor Relations section of the company's website.
SiriusXM is a leading audio entertainment company in the U.S., reaching over 100 million people monthly through its services, including Pandora, the largest ad-supported audio streaming service.
SiriusXM announced its coverage of the 2020 PGA Championship, taking place August 6-9 at TPC Harding Park, San Francisco. This marks the first major championship of 2020, impacted by COVID-19. Coverage will include live hole-by-hole commentary starting 4:00 PM ET for Thursday through Saturday and 3:00 PM ET on Sunday. The broadcast features a mix of on-site and remote reporting, focusing on safety protocols. SiriusXM emphasizes its commitment to delivering extensive golf coverage with exclusive programming and analysis throughout the Championship week.
Sirius XM reported Q2 2020 revenue of $1.9 billion, down 5% year-over-year. Net income was $243 million, down from $263 million. Adjusted EBITDA stood at $615 million, maintaining a margin of 32.8%. Self-pay subscribers grew by nearly 200,000, showing resilience amidst the COVID-19 pandemic, although advertising revenue plunged 34%. The company reinstituted share repurchases, spending $165 million for 29 million shares. Full-year guidance includes expectations of 500,000 new self-pay subscribers and $7.7 billion in revenue.
Pandora has launched UNINTERRUPTED Radio, a new exclusive station featuring music curated by top NBA and WNBA players, coinciding with the NBA's 2020 season resumption. Fans can listen to soundtracks used by athletes like LeBron James and A'ja Wilson. The station includes Modes for different listening experiences: Tip-Off, Vet, and Postgame. This initiative is part of SiriusXM and Pandora's collaboration with UNINTERRUPTED, aimed at connecting fans and athletes through music. UNINTERRUPTED's mission is to empower athletes by providing them a platform to express themselves.
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