SiriusXM to focus more on streaming
March 1, 2023
By Chris Forrester
US pay-radio operator SiriusXM is to focus more on streaming its multi-channel content, and away from its traditional satellite delivery system.
SiriusXM is already streaming, and bought the Pandora operation in 2019 to build up its online efforts. It ended 2022 with 47.9 million active Pandora users.
CFO Sean Sullivan, speaking at Deutsche Bank’s Annual Media Conference, said that nothing would change in the short term with its satellite services initially designed for a ‘direct to auto’ transmission.
“I don’t think we’re pulling back,” he said. Sullivan added that things such as live events are helpful to drive the usage of the service. “We are a content company and to enable us to continue to deliver a differentiated premium product, we need to invest incrementally in these areas and non-music — and I think we’ll do that in a disciplined fashion.”
However, the fact that drivers and their vehicles are increasingly using built-in audio apps then any switch to extend access or switch from satellite to wireless/cellular could be easier to manage.