SiriusXM to Focus on Retaining and Adding More Car Listeners -- Market Talk

Dow Jones

2024/12/10

0952 ET - SiriusXM is shifting its strategy to focus resources on increasing retention among subscribers with services embedded in their vehicles, which make up about 90% of its total subscriber base. The satellite radio and audio-streaming company says in a corporate update that it will also focus on capturing additional growth opportunities within this core automotive subscriber segment. SiriusXM plans to shift marketing and other resources away from the high-cost and high-churn audiences for its streaming services, which will start to be used as more of a companion to the company's automotive offering. SiriusXM slides 9% after revealing that it expects to bring in less revenue next year than in 2024. (dean.seal@wsj.com)

(END) Dow Jones Newswires

December 10, 2024 09:52 ET (14:52 GMT)

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