Sirius XM held its Q2 earnings call last week, and investors pursued two lines of questioning about Pandora. First as a potential acquisition, thanks to a recent revelation that Liberty Media, parent company of Sirius XM, had made an offer to Pandora. Second as a potential threat to Sirius XM’s business. CEO james E. Meyer addressed both points. PLUS, more from the call. Continue Reading
Sirius XM has reported another quarter of record-setting revenue. For Q2 2016, the satellite radio company posted revenue of $1.2 billion, up 10% over the year-ago period. As a result of the quarterly performance, Sirius XM has raised its 2016 guidance. Continue Reading
Just hours ahead of its second-quarter earnings call, we’ve learned that Pandora has reportedly turned down a proposed bid from Liberty Media. The owner of Sirius XM allegedly floated an offer to buy out the online audio company for $15 per share, valuing Pandora at more than $3.4 billion. Sources are saying that Pandora board rejected the informal bid, citing the price as too low. Continue Reading
Belize-based Global Interactive Media has filed a patent infringement lawsuit against Sirius XM. The action was filed in a U.S. District Court in Illinois. It is the latest in a long string of lawsuits over how music information is displayed online. Continue Reading
Sirius XM announced that its Music for Business service is now available on Sonos wireless speakers. This partnership brings Sirius XM’s licensed commercial-free music to businesses using Sonos products. Continue Reading
In a move that seems to cross a perceptual boundary between music artists and music services, Casey Rae, CEO of the Future of Music Coalition, is resigning that post and taking the role at Sirius XM as Director of Music Licensing. He will remain in Washington D.C. Continue Reading
Sirius XM reported its first-quarter results for 2016 and has increased its guidance for the year’s net subscriber growth based on the performance. Quarterly revenue rose 11% to a high of $1.2 billion. Sirius XM said it now anticipates adding 1.6 million net new total subscribers in 2016. Continue Reading
It’s a sad day for the music world with the death of the artist known as Prince. The incredible performer had a huge impact on his many fans and fellow musicians. Multiple radio and music sources are now paying tribute to Prince’s massive talent and vast catalog of wonderful music. Continue Reading
Sirius XM announced that it will increase its subscription rates for satellite radio access. Beginning April 27, the Select subscription cost will increase from $14.99 to $15.99 per month. Standalone access to Sirius XM Internet radio will also go up $1. Continue Reading
This week’s Q4 earnings call for Sirius XM provided a snapshot of company financials and projections, as these calls always do, and some color around company strategy and aspirations. Click through for excerpts. Continue Reading
Sirius XM reported its fourth-quarter financial results. Net income for the period totaled $134.63 million, or 3 cents per share, down 5.9% from income of $143.12 million, or 3 cents per share, in the year-ago quarter. Quarterly revenue increased about 10% on-year to $1.20 billion, surpassing analysts’ expectations of $1.19 billion after a third-quarter revenue total of $1.17 billion. Continue Reading
The name of Howard Stern feels synonymous with Sirius XM, and thanks to a new agreement, that will remain the case. Siriux XM signed a 12-year agreement with Stern that will see the broadcaster continuing to produce and host The Howard Sterm Show for the next five years. There are also plans afoot for new video content from the host. Continue Reading