SiriusXM Eyes Smart Speakers, Connected Cars
SiriusXM is looking to connected cars and smart speakers to expand beyond its factory-installed satellite radios in autos, CEO Jim Meyer said in a proxy at the SEC for a June 5 annual meeting in New York. Smart speakers are…
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“a great way to extend the reach of SiriusXM in-home,” he said. “We are creating more content and more functionality for Amazon’s Alexa-powered platform and are working with several other large players in this space.” It’s targeting smart-speaker owners with its 300-channel, $8 monthly Essential streaming-service package (see 1904220019). Meyer said an automaker presence “remains a central part of our strategy,” with receivers to be factory-installed in more than 80 percent of new vehicles through 2028, when its current Toyota deal expires. He got an $8 million cash bonus in February after actions that included completing the $3.5 billion Pandora buyout Feb. 1 “to create the world’s largest audio digital entertainment company.” The CEO also got a 2018 base salary of just under $2 million, an increase from $1.8 million in 2017. Meyer, 64, is under contract through Dec. 31, having signed a one-year extension in August, his second one-year deal in as many years. SiriusXM agreed in August to pay Meyer for up to 100 hours of "personal flight time" yearly on a private plane, it said Monday.