North American pay-radio operator SiriusXM has been hit with a $150 million (€138m) claim from SoundExchange alleging unpaid royalties and late payments. The action was started in the US District Court for the Eastern District of Virginia. Specifically, the lawsuit alleges that SiriusXM used an artificially low revenue calculation to determine payments by ascribing “excessive […]
US pay-radio operator SiriusXM, owned by Liberty Media, generated $2.25 billion (€2.06bn) for the quarter-year which ended on June 30th. This was the same as revenues a year ago. Subscriber numbers were level at 34 million. However, SiriusXM’s Pandora streaming service lost subscribers and fell to 47.4 million, down from 50.5 million a year ago. […]
SiriusXM, the US pay-radio service, has announced the launch of Moonbug Radio, an exclusive new year-round channel in collaboration with Moonbug Entertainment, a subsidiary of Candle Media. Moonbug Radio is available immediately and features hit music from kids’ favourite shows such as CoComelon,Blippi and more. The channel is available to subscribers in their cars (channel […]
Two major Class Actions are naming Liberty Media and CEO Greg Maffei in their allegations. One Class Action by shareholders in TripAdvisor, itself with a major shareholder in the shape of Liberty Media, can proceed with their lawsuit. The claim centres on a move by TripAdvisor from its existing Delaware domicile to Nevada and alleged […]
North American pay-radio giant SiriusXM saw a 1.9 per cent fall in its Q1 revenues to $2.14 billion (€1.95bn). It ended the quarter with 34.02 million paid subscribers with 347,000 net additions. Specifically, SiriusXM enjoyed revenues of $1.7 billion (the balance of the $2.14 billion coming mostly from its Pandora streaming service at $462 million). […]
Pay-radio operator SiriusXM is cutting its workforce by 8 per cent affecting some 475 positions. SiriusXM’s CEO Jennifer Witz used an email to staff saying that the layoffs come as SiriusXM is “entering into a new phase” of its business on top of “today’s uncertain economic environment.” In November 2022 Witz said that SiriusXM as […]
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 […]
US pay-radio operator SiriusXM has announced its Q4 and full-year 2022 operating and financial results, including revenue of $2.28 billion (€2.09bn) and $9 billion, respectively. SiriusXM’s revenue was flat in the quarter compared to the prior year period, and increased by 4 per cent in 2022 compared to the prior year – this dragged down […]
SiriusXM, the US subscription radio service, is planning to cut its headcount amid a slowdown in growth. CEO Jennifer Witz informed staff that job reductions were possible in order to address economic uncertainty, including a long-term slowdown in sales, reports Bloomberg. SiriusXM reportedly has around 5,600 employees including those at the legacy satellite radio service, […]
North American pay-radio operator SiriusXM has ordered two powerful geostationary satellites to be built by Maxar Technologies. The new craft (SXM-11 and SXM-12) now join two other satellites (SXM-9 and 10) already under construction by Maxar. SXM-9 and 10 were ordered in 2021. SXM-11 and 12 will launch around 2026-27. The new craft will have […]