SiriusXM Adding Apps, Video, Focusing Beyond Audio-Only
With new apps and web player giving SiriusXM subscribers access through smartphones, smart TVs and smart speakers, “it’s never been easier to enjoy SiriusXM outside the car,” said CEO Jim Meyer on a Wednesday earnings call. The company is “building…
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the resources to focus on acquiring streaming-only subscribers,” he said. Such additions “will invariably be small compared to subs generated from our 20-million-plus annual vehicle trial funnel,” he said. “If we are successful, they still could meaningfully bend our long-term subscriber-growth arc.” Though competitors were successful in expanding subscriptions through a “streaming-only offering,” SiriusXM hasn’t “really been able to do what I wanted to do, technically, until recently,” in the streaming space, said Meyer. President-Chief Content Officer Scott Greenstein sees “lots of opportunities” for video. He said it's "complementary to our audio, and it will stay that way, but there are obviously assets that come to mind that would be valuable in video, in short-form video, with very little expense to put them out" a la what's coming from Sirius host Howard Stern.