In a landscape-shifting deal that could be filed in the “Finally!” folder, Sirius XM is buying Pandora. The satellite company already owned a 14% stake in the streaming audio giant, and three Sirius execs have been sitting on Pandora’s board for over a year. Pandora’s well-prepared material on the deal calls the combination “the world’s largest audio entertainment company.” Continue Reading
Sirius XM reported its Q2 2018 financial results, marking another successful period for the satellite radio business. Quarterly revenue rose 6% to $1.4 billion. Net income totaled $292.3 million, or 6 cents per diluted share, up from $202.1 million, or 4 cents per diluted share, in the year-ago period. Continue Reading
Netflix has entered a partnership with Sirius XM to launch a comedy station on the satellite radio platform. The channel will be titled Netflix Is a Joke Radio and is slated for a January 2019 launch. Continue Reading
Sirius XM has reached a settlement with SoundExchange, ending outstanding claims surrounding royalty payments from January 2007 through December 2017. SoundExchange claimed that Sirius XM had taken deductions and exemptions in calculating its royalty payments. The satellite radio company will make a lump sum payment of $150 million to SoundExchange. Continue Reading
DIY podcasting app Anchor is crossing over into the broadcast world. The company is launching a show on Sirius XM called This Week on Anchor. It will air on Sirius XM Insight Channel 121 on Saturdays at 7 am Eastern and 7 pm Eastern, and Sundays at 3 pm Eastern. Continue Reading
Satcaster Sirius XM reported its Q1 financials yesterday. subscriptions up 330,000 to over 33-million. Revenue climbed 6% to 1.4-billion. Full-year guidance unchanged. CEO James E. Meyer commented on Pandora & iHeartMedia situations. Continue Reading
Liberty Media, majority owner of Sirius XM and minority owner of Pandora, has offered a term sheet that would grant it ownership of a 40% stake in iHeartMedia for $1.159 billion. This move is an eleventh-hour deal in reaction to iHeartMedia’s difficult financial situation. It also isn’t the first time Liberty has broached a last-minute audio investment. Continue Reading
Sirius XM has shared its results from the 2017 fourth quarter and full fiscal year. The satellite radio company posted quarterly revenue of $1.4 billion and a net loss of 37 million, or 1 cent per share. For the full year, revenue totaled $5.4 billion. Net income was $648 million, or 14 cents per share. Continue Reading
Ahead of its Q4 earnings call, Sirius XM announced that it has exceeded its 2017 subscriber guidance. The satellite radio company ended the year with about 27.5 million self-pay subscribers, adding an estimated 1.56 million self-pay subscribers in 2017. Continue Reading
Some Sirius XM subscribers have been informed that their subscription costs will go up starting in mid-February. The price hike is attached to a Music Royalty Fee already paid by some accounts. Continue Reading
The Copyright Royalty Board recently made its ruling for royalty rates to be paid by Sirius XM in 2018-2022. David Oxenford lays out the known details of the determination along with some important notes about the appeal for the webcasting rates set for 2016. Continue Reading
The Copyright Royalty Board judges have set the new royalty rates and terms for Sirius XM. The company will pay 15.5% of gross revenues for the period of January 1, 2018 through December 31, 2022. That’s a 40% increase from the 11% share Sirius XM has been paying for royalties. Continue Reading