About Sirius XM Radio Inc.
You might say radio programming from this company comes from a higher plane. SIRIUS XM Holdings, operating through SIRIUS XM Radio, manages satellite radio systems under the SIRIUS and XM brands that together boast more than 25 million subscribers. Each service offers more than 150 channels of CD-quality music, news, and talk shows. Programming includes National Football League, Major League Baseball, and college games, as well as talk shows featuring hosts Howard Stern, Martha Stewart, and Oprah Winfrey. The company has equipment alliances with several automakers; it also sells satellite radio equipment through its website and through such retail outlets as Best Buy and WalMart. In 2018, SiriusXM offered $3.5 billion for music streaming company, Pandora.
In addition to its domestic radio services, SiriusXM has interests in the Canadian market. It owns 50% of SIRIUS Canada, a joint venture with the Canadian Broadcasting Corporation (CBC). SIRIUS Canada merged with Canadian Satellite Radio (XM Canada) in 2011, giving SiriusXM a solid foundation in the Canadian market.
Sales and Marketing
Subscription satellite radio has proven to be quite popular thanks to the wealth of programming options available beyond the limited content offered by advertising-supported terrestrial radio broadcasters.
With its large subscriber base, SiriusXM has stolen away many listeners from traditional broadcast stations operated by major radio companies such as Clear Channel and Cumulus Media. Providing all that content, though, is quite expensive due to rights fees for sports and exclusive talk shows, as well as the satellite equipment needed to reach listeners across the country.
During fiscal 2013 the company spent about $180,000 on advertising after spending roughly $140,000 on advertising during fiscal 2012.
SiriusXM has been experiencing a positive trend in its revenue since 2008. The company's fiscal 2013 revenues increased by 12% compared to fiscal 2012, primarily due to increases in its subscriber revenues, advertising revenues, agency fees, and equipment revenues.
SiriusXM saw its net income nosedive in 2013. Net income decreased 98% from $3.47 billion in fiscal 2012 to only $377.2 million in fiscal 2013. The huge drop was largely due to drastically increased expenses for things such as royalties and taxes.
Even with its net income dropping so dramatically during fiscal 2013, the company's cash from operations increased due to improved operating performance, lower interest payments, and higher collections from subscribers and distributors.
SiriusXM is dependent on automobile makers. The company works hard to convert customers who received a promotional subscription as part of the purchase or lease of a new vehicle to a self-paying subscription.
Mergers and Acquisitions
In 2018 SIRIUS XM agreed to buy Pandora Media Inc. for $3.5 billion.In 2013 SIRIUS XM purchased connected vehicle business Agero, Inc. Agero's connected vehicle business provides services to several automakers, including Acura, BMW, Honda, Hyundai, Infiniti, Lexus, Nissan, and Toyota.
1290 Ave of Flr 11
New York, NY 10104
Phone: 1 (212) 584-5100
Employer Type: Privately Owned
Executive Vp: Thomas Barry
Marketing Manager: Gayle Fisher
Evp And Chief Marketing Officer: Jennifer Witz
Employees (This Location): 135
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