SiriusXM and NBA Expand Agreement to Offer Fans with Streaming Subscriptions Access to NBA Live-Game Audio

Rhea-AI Summary

SiriusXM has expanded its agreement with the NBA to enhance streaming rights starting with the 2020-21 season. The deal allows SiriusXM Premier Streaming Package subscribers access to live audio broadcasts for every NBA game and a dedicated NBA Radio channel, offering 24/7 coverage. Subscribers can access 30 additional play-by-play channels for each team through the SiriusXM app and website. New customers can take advantage of a promotional offer for the Premier Streaming Package for $1 for the first three months. This move strengthens SiriusXM's position in sports audio entertainment.

Positive

• Expanded agreement with NBA enhances streaming rights for SiriusXM subscribers.
• SiriusXM Premier Streaming Package now offers live audio broadcasts for every NBA game.
• Access to 30 additional play-by-play channels dedicated to each NBA team.
• Exclusive 24/7 SiriusXM NBA Radio channel enhances NBA content availability.
• Promotional offer for new customers provides first 3 months of the Premier Streaming Package for $1.

Negative

• None.

NEW YORK, Jan. 8, 2021 /PRNewswire/ -- The National Basketball Association and SiriusXM have expanded their agreement to include additional streaming rights starting with the 2020-21 NBA season. The multi-year agreement will provide SiriusXM subscribers with the SiriusXM Premier Streaming Package access to live audio broadcasts for every NBA game. Subscribers with either a SiriusXM Premier or SiriusXM Essential Streaming Package will also get the exclusive 24/7 talk channel, SiriusXM NBA Radio.

SiriusXM streaming subscribers can access NBA content on the SiriusXM app on their mobile devices, at SiriusXM.com, and on connected devices and smart speakers. Fans with the Premier Streaming Package will now have access to 30 additional play-by-play channels on the SiriusXM app and at SiriusXM.com, each dedicated to carrying the official radio broadcast for each NBA team, making it easy for fans to find and listen to their favorite team's announcers for every game. Schedules can be found at SiriusXM.com/NBAschedule.

Consumers with either the SiriusXM Premier Streaming or SiriusXM Essential Streaming Package can now access the 24/7 SiriusXM NBA Radio channel. The channel offers extensive and in-depth coverage of the NBA with a daily lineup of shows hosted by many former coaches and players as well as SiriusXM's roster of insiders.  Fans can stream SiriusXM NBA Radio programming anytime they want. Go to SiriusXM.com/NBA for more info on SiriusXM's exclusive NBA programming. 

Streaming access to NBA programming will continue to be available to SiriusXM subscribers with the SiriusXM All Access satellite service, who can listen on their SiriusXM radio in-vehicle and on the SiriusXM app.

Right now, SiriusXM is offering new eligible customers their first 3 months of the Premier Streaming Package for $1. Fees and taxes apply. See Offer Details and sign up at SiriusXM.com/NBATrial.

About SiriusXM

Sirius XM Holdings Inc. (NASDAQ: SIRI) is the leading audio entertainment company in the U.S., and the premier programmer and platform for subscription and digital advertising-supported audio products. Pandora, a subsidiary of SiriusXM, is the largest ad-supported audio entertainment streaming service in the U.S. SiriusXM and Pandora's properties reach more than 150 million listeners, the largest addressable audience in the U.S., across all categories of digital audio – music, sports, talk, and podcasts. SiriusXM's acquisitions of Stitcher and Simplecast, alongside industry-leading ad tech company AdsWizz, make it a leader in podcast hosting, production, distribution, analytics and monetization. SiriusXM, through Sirius XM Canada Holdings, Inc., also offers satellite radio and audio entertainment in Canada. In addition to its audio entertainment businesses, SiriusXM offers connected vehicle services to automakers. For more about SiriusXM, please go to: www.siriusxm.com.

About The NBA

The NBA is a global sports and media business built around four professional sports leagues: the National Basketball Association, the Women's National Basketball Association, the NBA G League and the NBA 2K League.  The NBA has established a major international presence with games and programming available in 215 countries and territories in more than 40 languages, and merchandise for sale in more than 100,000 stores in 100 countries on six continents.  NBA rosters at the start of the 2019-20 season featured 108 international players from 38 countries and territories.  NBA Digital's assets include NBA TV, NBA.com, the NBA App and NBA League Pass.  The NBA has created one of the largest social media communities in the world, with 1.9 billion likes and followers globally across all league, team, and player platforms.  Through NBA Cares, the league addresses important social issues by working with internationally recognized youth-serving organizations that support education, youth and family development, and health-related causes.

This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "believe," "intend," "plan," "projection," "outlook" or words of similar meaning. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements.

The following factors, among others, could cause actual results and the timing of events to differ materially from the anticipated results or other expectations expressed in the forward-looking statements:  the current coronavirus (COVID-19) pandemic is adversely impacting our business; our substantial competition that is likely to increase over time; our efforts to attract and retain subscribers and listeners, or convert listeners into subscribers, which may not be successful, and may adversely affect our business; our Pandora ad-supported business has suffered a loss of monthly active users, which may adversely affect our Pandora business; privacy and data security laws and regulations may hinder our ability to market our services, sell advertising and impose legal liabilities; we engage in extensive marketing efforts and the continued effectiveness of those efforts are an important part of our business; consumer protection laws and our failure to comply with them could damage our business; a substantial number of our Sirius XM subscribers periodically cancel their subscriptions and we cannot predict how successful we will be at retaining customers; our ability to profitably attract and retain subscribers to our Sirius XM service as our marketing efforts reach more price-sensitive consumers is uncertain; our failure to convince advertisers of the benefits of our Pandora ad-supported service could harm our business; if we are unable to maintain revenue growth from our advertising products, particularly in mobile advertising, our results of operations will be adversely affected; if we fail to accurately predict and play music, comedy or other content that our Pandora listeners enjoy, we may fail to retain existing and attract new listeners; if we fail to protect the security of personal information about our customers, we could be subject to costly government enforcement actions and private litigation and our reputation could suffer; interruption or failure of our information technology and communications systems could impair the delivery of our service and harm our business; we rely on third parties for the operation of our business, and the failure of third parties to perform could adversely affect our business; our business depends in part upon the auto industry; our Pandora business depends in part upon consumer electronics manufacturers; the market for music rights is changing and is subject to significant uncertainties; our ability to offer interactive features in our Pandora services depends upon maintaining licenses with copyright owners; the rates we must pay for "mechanical rights" to use musical works on our Pandora service have increased substantially and these new rates may adversely affect our business; failure of our satellites would significantly damage our business; our Sirius XM service may experience harmful interference from wireless operations; failure to comply with FCC requirements could damage our business; economic conditions, including advertising budgets and discretionary spending, may adversely affect our business and operating results; if we are unable to attract and retain qualified personnel, our business could be harmed; we may not realize the benefits of acquisitions or other strategic investments and initiatives, including the acquisition of Pandora; our use of pre-1972 sound recordings on our Pandora service could result in additional costs; we may from time to time modify our business plan, and these changes could adversely affect us and our financial condition; we have a significant amount of indebtedness, and our debt contains certain covenants that restrict our operations; our facilities could be damaged by natural catastrophes or terrorist activities; the unfavorable outcome of pending or future litigation could have an adverse impact on our operations and financial condition; failure to protect our intellectual property or actions by third parties to enforce their intellectual property rights could substantially harm our business and operating results; some of our services and technologies may use "open source" software, which may restrict how we use or distribute our services or require that we release the source code subject to those licenses; rapid technological and industry changes and new entrants could adversely impact our services; existing or future laws and regulations could harm our business; we may be exposed to liabilities that other entertainment service providers would not customarily be subject to; our business and prospects depend on the strength of our brands; we are a "controlled company" within the meaning of the NASDAQ listing rules and, as a result, qualify for, and rely on, exemptions from certain corporate governance requirements; while we currently pay a quarterly cash dividend to holders of our common stock, we may change our dividend policy at any time; and our principal stockholder has significant influence, including over actions requiring stockholder approval, and its interests may differ from the interests of other holders of our common stock. Additional factors that could cause our results to differ materially from those described in the forward-looking statements can be found in our Annual Report on Form 10-K for the year ended December 31, 2019 and Quarterly Report on Form 10-Q for the quarter ended March 30, 2020, which are filed with the Securities and Exchange Commission (the "SEC") and available at the SEC's Internet site (http://www.sec.gov). The information set forth herein speaks only as of the date hereof, and we disclaim any intention or obligation to update any forward looking statements as a result of developments occurring after the date of this communication.

Source: SiriusXM

Media contacts:
Andrew FitzPatrick, SiriusXM, Andrew.FitzPatrick@SiriusXM.com
Mike Wade, NBA, MWade@NBA.com

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SOURCE Sirius XM Holdings Inc.

FAQ

What new features does the SiriusXM NBA agreement provide for subscribers?

The expanded agreement allows SiriusXM subscribers to access live audio broadcasts for every NBA game and a dedicated 24/7 NBA Radio channel.

When did SiriusXM and the NBA expand their streaming agreement?

The expanded agreement started with the 2020-21 NBA season.

What is the promotional offer for SiriusXM's Premier Streaming Package?

New eligible customers can receive their first 3 months of the Premier Streaming Package for $1.

How can SiriusXM subscribers access NBA content?

Subscribers can access NBA content via the SiriusXM app, website, and connected devices, including smart speakers.

What does the SiriusXM NBA Radio channel offer?

The SiriusXM NBA Radio channel provides extensive coverage of the NBA with shows hosted by former players and coaches.