SIRIUS, LONG COMMERCIAL-FREE IN CARS, IS BETTING ON ADVERTISING TO CAPTURE NEW LISTENERS

Summary from the TLDR Marketing newsletter

SiriusXM is launching a cheaper, ad-supported subscription plan called SiriusXM Play, priced under $7 per month, to attract cost-conscious users and convert more free trial drivers into paying customers. The plan includes limited ads and access to over 130 channels, but premium content like Howard Stern and live sports remains exclusive to ad-free subscribers. SiriusXM ended Q1 with 33 million subscribers, a loss of 303,000, and reported a 4% year-over-year drop in revenue to $2.07 billion. The company is shifting focus to in-car services and ad revenue, which totaled $1.8 billion in 2024 despite a soft ad market.