Actualités

The top-paid Hollywood executive of the past year is one who actually left the entertainment industry scene more than a year ago.

With his severance package alone worth $69.3 million, more than the total pay packages disclosed for any other industry player, Bob Bakish, the former CEO of Paramount Global, was catapulted to the top of the annual compensation list. The three co-CEOs who succeeded him — aka “The Office of the CEO,” Chris McCarthy, George Cheeks and Brian Robbins — all received packages in the $20 million range. As co-CEOs, they made $6 million each, with the rest of their compensation being pay for their respective existing and continuing executive roles.

Bakish was ousted officially last April as Paramount owner Shari Redstone was in the middle of lengthy talks with David Ellison’s Skydance and RedBird Capital on a deal that would transfer ownership of the historic studio from the Redstone family to the Ellisons.

As the earnings drumbeat continues, SiriusXM CFO Tom Barry said the company doesn’t expect “that tariff-related pressure on new car sales will have a material impact on our subscriber or financial performance this year,” but cautioned, “that said, like every business, we’ll continue to closely monitor ongoing developments and broader consumer health.”

The satellite broadcaster is unique in its dependence on cars, where most people listen to the service, amid punishing tariffs by the Trump administration on autos and auto parts, although the president recently softened the hit. Barry and CEO Jennifer Witz noted on a call after first quarter earnings that the company has not seen an impact so far. “Big picture, we sleep well at night,” Barry said.

Consumer jitters about higher costs in a high tariff regime are also a concern for businesses.

The company, which also owns music streamer Pandora, reported a first-quarter dip in revenue,...

SiriusXM CEO Jennifer Witz had a total pay package of $37 million in 2024.

That compensation package included a base salary of $2 million, with the bulk made up of stock awards of $16.2 million and option awards of $16.5 million. She also received a bonus of $2.1 million.

Witz’s total pay package was up from 2023, when Witz did not receive stock and options awards, and had a base salary of $1.75 million and a total pay package of $7.2 million.

Witz and Scott Greenstein, president and chief content officer of SiriusXM, both received long-term equity incentives in February 2024 in relation to the renewal of their three-year employment contracts. The grants are intended to cover 2024 through 2026 and were intended to stand in place of regular ongoing annual grants during that time period.

Greenstein had a total pay package of $21.8 million in 2024, above his pay package of $4.2 million in 2023. The change came as Greenstein also received sizable stock...

Anjali Sud, the chief executive of Fox Corporation’s streaming service Tubi. (Image via LinkedIn)

Premium audio provider SiriusXM has appointed Anjali Sud to its board of directors.

Sud is the CEO of Fox Corporation’s free streaming television service Tubi, where she has worked since 2023. She joins SiriusXM’s board at a time when the company is returning to its roots as a satellite radio-focused service, one that also has a companion streaming app and a handful of other business ventures.

“Anjali has an incredible track record on the cutting edge of media and technology, and has a deep understanding for what it takes to succeed today,” Jennifer Witz, the CEO of SiriusXM, said in a statement. “She will be an asset to the Board and to the company as a whole as we look to maintain our strong standing and to position ourselves for future growth. I look forward to working with her.

Jennifer Witz, SiriusXM Chief Executive Officer speaks onstage during the SiriusXM Next Generation: Industry & Press Preview at The Tisch Skylights at The Shed on November 08, 2023 in New York City. (Photo by Mike Coppola/Getty Images for SiriusXM)

SiriusXM has laid off a number of employees working within its product and technology teams.

The layoffs are the second in three months to hit the premium audio provider, which recently announced a new strategy that involves targeting in-car consumers with their financially-lucrative satellite product after years of trying to reorient the company around streaming and other digital platforms.

Billboard was the first to report on the layoffs. The company has not affirmed the job cuts or said how many employees are affected. A source familiar with the matter told The Desk early Wednesday morning that the number of affected workers is in the “low double-digits.”

The job cuts involved a wide range of positions at SiriusXM,...

SiriusXM continues to feel the heat from Donald Trump threatening tariffs on automakers.

“Right now, we’re a little concerned and cautious about where the ad sales are going,” SiriusXM CFO Thomas Barry told the Deutsche Bank Media, Internet & Telecom Conference on Tuesday during a session that was webcast.

The U.S. president most recently pausing tariffs for the Big Three car makers still leaves uncertainty around SiriusXM and the advertising market. “When you look at the current environment, obviously with the tariffs, the inflation, just overall uncertainty in the market, I think it’s adversely impacting the ad space,” Barry said.

He echoed remarks by SiriusXM CEO Jennifer Witz last week at a Morgan Stanley event, where she argued the first two months of 2025 for the ad market were strong, but that was before a one-month tariff exemption for U.S. automakers amid a wider cross-border trade war was announced.

Donald Trump threatening tariffs on automakers has SiriusXM weighing possible impacts on signing up new car owners as satellite radio subscribers.

“Hard to say right now where that will land. The first two months were very strong, but again, with potential tariffs going in place, it could impact the new car side of the business,” SiriusXM CEO Jennifer Witz told the Morgan Stanley Technology, Media & Telecom Conference on Wednesday.

A one-month tariff exemption for U.S. automakers was announced on Wednesday. But Trump’s tariffs, and subsequent retaliatory measures from Canada and Mexico, will make new cars more expensive to buy, and that stands to impact SiriusXM.

Witz said the satellite radio giant expected at the beginning of the year “relatively stable” new car sales, but that was undercut by Trump earlier this week imposing 25 percent tariffs on Canada and Mexico, which are integral to the cross-border supply chain behind manufacturing new American cars.

Jennifer Witz, SiriusXM Chief Executive Officer speaks onstage during the SiriusXM Next Generation: Industry & Press Preview at The Tisch Skylights at The Shed on November 08, 2023 in New York City. (Photo by Mike Coppola/Getty Images for SiriusXM)

SiriusXM posted fourth quarter (Q4) results that beat Wall Street expectations on Thursday, but its full-year earnings report revealed the company still has a considerable amount of work to win back subscribers and capitalize on them.

During 2024, SiriusXM earned $8.7 billion from its flagship satellite radio service, companion streaming audio platform, music service Pandora and podcast businesses. The figure was down 3 percent compared to 2023, and was attributed to a reduction in income from subscriber fees.

For Q4, SiriusXM earned $2.19 billion across its service and product line, a dip of 4 percent. Its flagship satellite and streaming radio product accounted for most of that income, with revenue attributed to SiriusXM radio clocking in at $6.6 billion, down 4 percent.

SiriusXM, which has been trimming staff and regrouping in several areas in a bid to reverse subscriber losses, reported better-than-expected results in the fourth quarter.

The satellite audio firm posted earnings per share of 83 cents and revenue of $2.19 billion. Both metrics exceeded Wall Street analysts’ consensus forecasts.

The results followed reports on Wednesday that the company is laying off about 100 employees, a bit less than 2% of its total workforce. The move comes nearly a year after a previous round of cuts affecting about 3% of staff.

Speaking to analysts on the company’s fourth-quarter earnings call, CEO Jennifer Witz said the company’s management team has “sharpened our strategic focus on SiriusXM’s strengths and differentiators, with an emphasis on robust margins, free cash flow generation, and capital returns.”

She said the core goals are to “continue to enhance our subscription offering, leverage the strength of our ad business, and accelerate...

SiriusXM added approximately 149,000 self-pay subscribers in the fourth quarter of 2024, an increase of 18,000 compared to the year-ago period.

For the full year 2024, self-pay subscribers decreased by 296,000, an improvement over the full-year decrease of 445,000 self-pay subscribers in 2023. The company ended 2024 with approximately 33 million total subscribers.

Subscribers to Pandora Plus and Pandora Premium services decreased by 101,000 to end the year at 5.8 million. The company attributed the decline to trial starts and lower retention due to price increases on certain self-pay plans.

Advertising revenue within the Pandora and Off-Platform segment reached $1.6 billion in 2024, a $17 million year-over-year increase, which the company attributed to a growth in podcasting and programmatic sales.

“Podcasting has seen a significant rise in listening and strong financial performance in 2024 for the full year, with revenue growing 12 percent year over year,” said chief financial officer Tom Barry.

The company reported net income of $287 million, up from $228 million in the year-earlier period.

A car entertainment system displays a channel broadcast on SiriusXM satellite radio.

Satellite and streaming audio company SiriusXM has revised its financial guidance for next year, with the organization saying it expects to bring in less money than it did in 2024.

On Tuesday, the premium audio service provider said it is still on track to earn $8.675 billion in revenue this year, but expects to only pull in $8.5 billion in revenue in 2025.

Executives said the revised forecast for next year comes amid continued “marketplace headwinds.” That includes ongoing softness in the advertising market and a slowdown in car sales that has chipped away at SiriusXM’s ability to convert free trial users into paying subscribers.

“At SiriusXM, we are focusing on the strengths that set us apart — including our strong core subscriber base, our unique position in vehicle, and our unrivaled, curated content — and taking steps to drive profitability and cash...

Satellite audio firm SiriusXM is aiming to trim costs by $200 million in 2025 as it shifts away from streaming and refocuses on its core automotive market.

The news, announced in a press release, follows efforts in 2023 and 2024 to achieve about $350 million in cost savings. Last February, as part of that austerity drive, the company laid off about 3% of its workforce.

Shares in SiriusXM tumbled 10% on the news, which included a revenue forecast of $8.5 billion for 2025, which is below the consensus among Wall Street analysts.

Strategically, SiriusXM said it is “doubling down” on vehicles, where 90% of its subscribers engage with its service. The company said it is “focusing its resources on increasing retention and capturing additional growth opportunities within this valuable segment that underpins its scaled subscriber base. As a part of this effort, the company will shift marketing and other resources away from high-cost, high-churn audiences in streaming to focus resources on core revenue-generating segments.

Jennifer Witz, SiriusXM Chief Executive Officer speaks onstage during the SiriusXM Next Generation: Industry & Press Preview at The Tisch Skylights at The Shed on November 08, 2023 in New York City. (Photo by Mike Coppola/Getty Images for SiriusXM)

A judge overseeing a consumer lawsuit brought by New York state’s attorney general against SiriusXM has upheld a complaint that the satellite and streaming radio company made it too difficult for consumers to cancel their subscriptions once they were activated.

The lawsuit was first brought by New York Attorney General Letitia James in state court last December, but was moved to federal court at SiriusXM’s urging one month later. At some point, it was moved back to state court, where a judge ruled on its merits last week.

James accused SiriusXM of making it easy for customers to start their satellite and streaming radio subscriptions online, only to force them to...

Jennifer Witz, SiriusXM Chief Executive Officer speaks onstage during the SiriusXM Next Generation: Industry & Press Preview at The Tisch Skylights at The Shed on November 08, 2023 in New York City. (Photo by Mike Coppola/Getty Images for SiriusXM)

SiriusXM continued to see struggles in its subscriber-based business, with the company losing 314,000 customers during its third financial quarter of the year.

The premium audio service ended the quarter with around 31.5 million subscribers, a 1 percent decline compared to the prior year.

Revenue attributed to SiriusXM’s satellite and streaming radio product was $1.63 billion during Q3, while average revenue per user (Arpu) came in at $15.16. Both were down compared to Q3 2023.

The company said higher subscriber churn coupled with ongoing softness in the advertising market was to blame for its Q3 earnings report.

On a conference call with reporters, SiriusXM CEO Jennifer Witz tried to reassure investors by saying the company had completed its...

A car entertainment system displays a channel broadcast on SiriusXM satellite radio.

SiriusXM has unveiled a new pricing structure for its satellite radio service that allows customers to subscribe to a base package of music channels, then tack on additional programming packages for extra fees.

The cost of SiriusXM satellite radio now starts at $10 per month, which includes access to all commercial-free music stations offered through the platform, executives confirmed on Thursday.

From there, customers can add separate packages that consist of news ($5 extra per month), talk ($5 extra per month) and sports ($8 extra per month) channels, though the additional packages are optional.

The plan also includes access to SiriusXM’s streaming music app, which will offer the same channels available in a customer’s satellite radio subscription, including any add-on channels as purchased.

On a conference call with investors, SiriusXM CEO Jennifer Witz said the updated prices were intended to...

The combination of audio entertainment giant Sirius Xm Holdings and the Liberty Sirius Xm tracking stock group of John Malone’s Liberty Media is complete. The new, consolidated publicly traded company will continue operating under the Sirius Xm brand.

Liberty Media, led by president and CEO Greg Maffei and chairman Malone, owned an 83 percent stake in Sirius Xm as of July 31. The deal simplifies the ownership structure of SiriusXM (the satellite radio brand is punctuated differently than its parent company) and follows a September proposal submitted by Liberty. Wall Street has long expected that Liberty would ultimately take full control of the audio company, which operates the SiriusXM and Pandora brands.

Just like was the case for the pre-merger Sirius Xm, shares of the new Sirius Xm will be listed on the Nasdaq stock market under the ticker symbol “Siri” where they will begin trading on Tuesday. Shareholders of Liberty...

SiriusXM Chief Growth Officer Suzi Watford unveils a new corporate image for the company. (Courtesy photo)

A plan to combine SiriusXM’s main stock with Liberty Media’s tracking stock has been approved by investors at a special shareholder meeting held this week.

The stock swap is one major step toward restructuring the satellite and streaming radio broadcaster’s overall ownership, and will involve the creation of a new publicly-traded company that will continue to operate under the SiriusXM brand name, Liberty said in a press release on Friday.

Liberty Media currently owns 84 percent of SiriusXM, making it the largest individual shareholder of the company. Liberty Media founder John Malone has long favored tracking stocks that are tied to the performance of a particular subsidiary or segment, having utilized them in some of his other telecommunications businesses.

Liberty Media says it will voluntarily delist the tracking stock Liberty SiriusXM Group...

A car entertainment system displays a channel broadcast on SiriusXM satellite radio.

SiriusXM has introduced a new service tier that offers a handful of music, talk and sports channels for free on its Internet-connected car radios.

The plan, called SiriusXM Free Access, is available in vehicles with radios that support the SiriusXM 360L platform, which offers linear radio channels and on-demand programming through a combination of satellite and streaming data delivery.

The SiriusXM Free Access service includes commercial breaks throughout its channels. Around two dozen free music streams are included, spanning across genres like alternative rock, pop, hip hop and country. Four sports channels — ESPN Radio, Fox Sports, NBC Sports Audio and Infinity Sports Network — are also included, as are simulcasts of cable news channels like CNN and MSNBC. Two comedy channels — Comedy Central Radio and Conan O’Brien Radio — are available through the free plan, as are special interest channels like NPR,...

Audio entertainment giant SiriusXM, the home of Howard Stern, reported Thursday that it lost 100,000 self-pay subscribers in its satellite radio unit in the second quarter, fewer than the 130,000 drop recorded in the year-ago period “due to lower voluntary churn and higher automaker volumes, which were partially offset by higher vehicle-related churn and lower vehicle conversion rates and streaming net additions.”

SiriusXM also lost 73,000 paid promotional subscribers in the latest period “largely due to a shift towards unpaid trial subscriptions by certain automakers.” In the second quarter of 2023, the company had added 171,000.

That meant a total net drop of 173,000 subscribers in the latest period, compared with a gain of 39,000 in the second quarter of 2023.

At its Pandora streaming business, SiriusXM lost 41,000 self-pay subscribers in the April-June quarter, compared with a year-ago gain of 8,000. The company ended June with just below 6.0 million total self-pay customers at Pandora.

SiriusXM, led by CEO Jennifer Witz,...

Audio entertainment giant SiriusXM, the home of Howard Stern, reported on Tuesday that it lost 359,000 self-pay subscribers in its satellite radio unit in the first quarter.

The decline from a year-earlier loss of 347,000 self-pay subs resulted from fewer trial starts in late 2023 and higher first-quarter churn. Paid promotional subscribers during the latest quarter fell by 86,000 customers, compared to a gain of 66,000 subscribers in the category last year.

This added up to an overall first-quarter subscriber drop of 445,000, compared with 281,000 in the same quarter of 2023. SiriusXM, led by CEO Jennifer Witz, also reported self-pay subscribers of its Pandora Plus and Pandora Premium services fell by 64,000 during the first quarter, compared to a year-earlier loss of 7,000 subscribers.

During a morning analyst call, Witz conceded the launch of the new SiriusXM streaming app for some longtime customers had been “disruptive,” but added innovation to reach younger subscribers beyond cars was growing. “Our early...

Jennifer Witz, SiriusXM Chief Executive Officer speaks onstage during the SiriusXM Next Generation: Industry & Press Preview at The Tisch Skylights at The Shed on November 08, 2023 in New York City. (Photo by Mike Coppola/Getty Images for SiriusXM)

Satellite and streaming audio platform SiriusXM will issue pink slips to around 160 workers in an effort to curb expenses amid a broader restructuring of the company’s operations.

The layoffs represent around 3 percent of SiriusXM’s global workforce and comes about a week after SiriusXM said it lost around 430,000 subscribers in 2023, including a loss of 94,000 customers during the last three months of the year.

In a memo sent to SiriusXM employees on Monday, CEO Jennifer Witz said the company was in the process of reorienting its business around connected audio platforms in order to grow its paying subscribers.

“To continue on our path to future subscriber growth and sustain our company’s success as the competitive landscape evolves,...

Satellite audio firm SiriusXM is trimming its global workforce by about 3% in an effort to become “more efficient, agile, and flexible,” CEO Jennifer Witz wrote in a memo to employees.

The company last year unveiled a significant revamp of its app and has made a series of talent deals in a push into podcasts.

“We made significant progress on the transformation of our business in 2023, but we have just begun to scratch the surface of what is possible here at SiriusXM,” Witz wrote in the memo. “To continue on our path to future subscriber growth and sustain our company’s success as the competitive landscape evolves, it’s imperative that we become even more efficient, agile, and flexible. Therefore, today we are making several organizational changes, including the difficult decision to eliminate certain roles, which will allow us to move faster and collaborate more effectively in support of our long-term objectives.

SiriusXM is laying off less than 3 percent of its workforce, or about 160 positions, as the company reorganizes to promote future subscriber growth.

In a memo to employees Monday, CEO Jennifer Witz said the layoffs will allow the company to become “more efficient, agile, and flexible.” As of December 31, 2023, the company reported having 5,680 full-time and part-time employees.

“We made significant progress on the transformation of our business in 2023, but we have just begun to scratch the surface of what is possible here at SiriusXM. To continue on our path to future subscriber growth and sustain our Company’s success as the competitive landscape evolves, it’s imperative that we become even more efficient, agile, and flexible. Therefore, today we are making several organizational changes, including the difficult decision to eliminate certain roles, which will allow us to move faster and collaborate more effectively in support of our long-term objectives. From uniting teams and better aligning initiatives,...

Jennifer Witz, SiriusXM Chief Executive Officer speaks onstage during the SiriusXM Next Generation: Industry & Press Preview at The Tisch Skylights at The Shed on November 08, 2023 in New York City. (Photo by Mike Coppola/Getty Images for SiriusXM)

Satellite and streaming radio platform SiriusXM saw a dip in subscriber accounts across its flagship product and associated music streamer Pandora, the company revealed this week.

During its fourth financial quarter (Q4) of the year, SiriusXM shed 94,000 subscribers after new promotional accounts failed to level out losses in its self-paid customer base, the company revealed on Thursday.

For 2023, SiriusXM ended with around 33.9 million paid and promotional customers, including those who are receiving extended free trials through online offers and new car sales. Around two million of those customers are currently receiving such promotions, SiriusXM revealed, while the other 31.9 million are paying regular service rates.

Most SiriusXM customers pay to use the company’s hardware radio receivers,...

Audio entertainment giant SiriusXM, the home of Howard Stern, reported Thursday that it added 131,000 self-pay subscribers in its satellite radio unit in the fourth quarter after a 96,000 loss in the third, a 132,000 drop in the second and a 347,000 loss in the first quarter. In the year-ago period, the firm had added 162,000 such customers. But SiriusXM also lost 225,000 paid promotional subscribers in the latest period after a year-ago loss of 28,000.

That meant a total net drop of 94,000 subscribers in the latest quarter, compared with a gain of 134,000 in the fourth quarter of 2022.

For all of 2023, SiriusXM lost 430,000 customers, driven by a drop of 445,000 among self-pay subscribers, while paid promotional users grew by 15,000. As of the end of 2023, Sirius’ self-pay subscriber base stood at more than 31.9 million, with its total users standing at nearly 33.9 million. Earlier in the year, the firm, led by CEO Jennifer Witz, had said that it expected a...

Jennifer Witz, SiriusXM Chief Executive Officer speaks onstage during the SiriusXM Next Generation: Industry & Press Preview at The Tisch Skylights at The Shed on November 08, 2023 in New York City. (Photo by Mike Coppola/Getty Images for SiriusXM)

A lawsuit brought by the New York state attorney general accusing SiriusXM of malpractice over account cancellations has been moved to federal court at the company’s request.

The lawsuit, filed last December, claims SiriusXM makes it difficult for its satellite and streaming radio customers to cancel their subscriptions when they attempt to do so online and over the phone.

In a complaint filed in New York state court last year, State Attorney General Letitia James claims SiriusXM provides its customer support staff with a “lengthy, six-part script” that is designed to create a “lengthy and burdensome cancellation process” when customers try to end their service.

The lawsuit was filed following an investigation by James’ office,...

Liberty Media’s Liberty SiriusXM tracking stock group and the satellite radio firm have reached an agreement to merge into a newly structured public company.

The new SiriusXM will continue to operate under the company’s existing name and brand. It will continue to have a common stock traded on the Nasdaq Global Select Market. Liberty’s tracking stock group would own 81% of the new entity, with SiriusXM owning the rest. The merger is expected to close early in the third quarter of 2024.

SiriusXM, known for a talent roster headed by Howard Stern, is in the midst of a strategic transition to a new app and a deeper roster of A-list podcast hosts. The company hosted an investor presentation last month, with execs joined by Stern, Kevin Hart, Kelly Clarkson and other talent. With 34 million paid subscribers, Sirius remains a dominant player in vehicles, but its plan for its newly...

Liberty Media’s Liberty SiriusXM tracking stock group will combine with satellite radio and audio entertainment giant SiriusXM to create a new public company, dubbed “New SiriusXM,” which will continue to operate under the SiriusXM brand, the companies said on Tuesday.

Liberty, led by president and CEO Greg Maffei and chairman John Malone, says on its website that it owned an 83 percent stake in Sirius Xm as of July 31.

New SiriusXM shares are expected to continue to be traded on the Nasdaq Global Select Market under the ticker symbol “Siri.” The deal simplifies the ownership structure of SiriusXM and follows a September proposal submitted by Liberty.

“We have reached an important milestone in Liberty’s ownership of SiriusXM. This combination will create value for all stockholders by eliminating the tracking stock structure, enhancing liquidity and allowing former Lsxm stockholders to participate directly in the ongoing performance of SiriusXM,” said Maffei.

Today at SiriusXM’s Next Generation Industry & Press Preview, the Company unveiled the new SiriusXM Streaming app, rolling out to subscribers across North America beginning on December 14. Accompanying the app is a refreshed brand platform and the newly-priced Streaming All Access Plan for $9.99 a month*, aimed at welcoming in a new generation of SiriusXM listeners.

“The introduction of the new SiriusXM streaming experience marks a pivotal moment in our history, one that kicks off a new era of innovation at our Company,” said Jennifer Witz, CEO, SiriusXM. “And this launch is just the beginning; we will continue to iterate and develop our product offerings throughout the next year and beyond as we strive to deliver our subscribers the best listening experience on the go, in the car, and wherever they choose to tune in. From can’t miss live moments to the perfect soundtrack for any occasion, with the new SiriusXM,...

The satellite radio giant SiriusXM is planning an aggressive push for a larger slice of the streaming music space, launching a new version of its platform on mobile devices and in cars; lowering its subscription price; and debuting a slew of new channels and shows as it seeks greater market share among younger consumers.

Focusing on the “next generation” of subscribers is a focal point of SiriusXM’s strategy, the company’s CEO Jennifer Witz tells The Hollywood Reporter in an interview. A big part of that is shifting the company’s streaming strategy from being a complement to the in-car offering to something that is compelling in its own right.

“We have a lot of our consumers, our subscribers streaming today outside of the car, and the app was originally designed basically as a companion to what you have in the car,” Witz says. “This is really our first...

SiriusXM unveiled an extensive rebrand and streamlined app today, with Howard Stern, Kevin Hart, Kelly Clarkson and other talent joining execs at a kickoff event in New York.

The redesigned streaming app will debut December 14 in North America, with in-car launch unfolding in the following months. The company also announced its Streaming All Access Plan would be priced at $9.99 a month, a discount to prior levels. Various in-vehicle price points will be announced in early 2024.

Stern, whose signing in 2004 represented the opening salvo in satellite radio’s bid for relevance, took the stage and delivered a characteristic few minutes of rumination. “I don’t color my hair!” he exclaimed. “I know you think I do, but I don’t.”

Moving on to his main reason for headlining the event, he recalled that prior to starting at Sirius in 2006, “I thought my career was over,” given his entanglements with the FCC.

Audio entertainment giant SiriusXM, the home of Howard Stern, reported Tuesday that it lost 96,000 self-pay subscribers in its satellite radio unit in the third quarter, a narrowed decline after a 132,000 drop in the second and a 347,000 loss in the first quarter. In the year-ago period, the firm had added 187,000 such customers, though.

SiriusXM also added 2,000 paid promotional subscribers, after a year-ago loss of 49,000. That meant a total net drop of 94,000 subscribers in the latest quarter, compared with a gain of 138,000 in the third quarter of 2022 and a gain of 23,000 in the second quarter of 2023. The year-to-date satellite radio user drop as of the end of September stood at 336,000, compared with a gain of 138,000 for the first nine months of 2022.

As of the end of September, Sirius’ self-pay subscriber base stood at more than 31.8 million, with its total users falling just below 34.0 million. Earlier in the year, the firm, led by CEO Jennifer Witz,...

Liberty Media said Tuesday that it has communicated a proposal to a special committee of the board of Sirius Xm Holdings, outlining the terms of a proposed combination of the Liberty SiriusXM tracking stock group, with the satellite radio giant, led by CEO Jennifer Witz, to form a “new, consolidated public company.”

Liberty, led by president and CEO Greg Maffei and chairman John Malone, says on its website that it owned an 83 percent stake in Sirius Xm as of July 31. Wall Street has in the past repeatedly suggested a proposal to take full control of the satellite radio company, which operates the SiriusXM and Pandora brands, could be in the works.

Liberty’s business stakes and interests are attributed to three tracking stocks, designed to track the performance of different businesses: Liberty SiriusXM Group, Formula One Group, and Liberty Live Group. The Liberty SiriusXM Group tracking stock is listed under the ticker symbol Lsxm,...

Audio entertainment giant SiriusXM CEO Jennifer Witz is bullish on improving the personalization and mobility of the firm’s services thanks to upcoming technology upgrades, she told an investor conference on Thursday.

Appearing at the Bank of America Securities Media, Communications & Entertainment Conference in a session that was webcast, she discussed future opportunities, particularly the company’s plans to later this year launch a next-generation streaming app, designed to better appeal to various audience segments, attract younger, more diverse listeners and offer enhanced search recommendations and other features.

“It’s really about how do we continue to enhance the value of our subscriptions and [showcase] this tremendously valuable set of content that really speaks to every audio genre – music, news, talks, entertainment, comedy, live, on-demand, exclusive, non-exclusive,” the SiriusXM CEO told the conference. “I think the biggest gap we found is being able to get consumers into the content they love.

Audio entertainment giant SiriusXM, the home of Howard Stern, disclosed on Tuesday that it lost 132,000 self-pay subscribers in its satellite radio unit in the second quarter, a narrowed decline after a 347,000 loss in the first quarter, and gained 155,000 paid promotional subscribers.

CEO Jennifer Witz, during an earnings conference call, highlighted “a meaningful sequential improvement in self-pay net subscriber additions compared to the first quarter” amid an improvement in auto trial starts. She concluded that this “sets us up for continued improvements in subscriber performance and a positive back half of the year.”

Touting nearly unchanged advertising revenue in line with expectations, Witz said that “in today’s choppy market [this] is a testament to the strength of our sales offerings.” She added: “While we are cautiously optimistic the second half will see year-over-year improvement in ad revenue, there are still many variabilities in the marketplace we will be watching closely. It...

Shares in satellite radio company SiriusXM have fallen back to Earth after a short squeeze forced a staggering jump of 42 percent to $7.75 in value at one point Thursday.

“We believe this move is related to a short squeeze in a stock with a small float, rather than any fundamental change in the business,” Evercore Isi analyst Vijay Jayant wrote in a July 21 investment note that downgraded SiriusXM to underperform, while reiterating a $4.50 price target.

Stock in SiriusXM on the Nasdaq Exchange fell by $1.13, or 14.5 percent, to $6.67 during late morning trading Friday as investors proved shy about continuing to stampede into a short squeezed stock.

AMC Theatres and GameStop were earlier popular targets for retail traders pulling off a similar so-called short squeeze, which forces hedge funds and other institutional traders that are shorting a company to buy new shares to cover their positions and minimize losses, which potentially boosts the stock price even higher.

Amid a weaker advertising market, SiriusXM CEO Jennifer Witz pointed to positive signs that include an auto sales recovery and a podcast market adapting to anxiety among brand marketers to forecast an ad sales recovery into the close of 2023.

But U.S. ad sales have softened for the satellite radio giant this year as more audio platforms compete for fewer ad dollars amid anxiety for consumers and brand marketers. “It’s choppy. It’s definitely choppy out there. I watch it every week. And it’s a tough environment,” Witz told the J.P. Morgan Global Technology, Media and Communications Conference during a session that was webcast Monday.

Besides the flagship subscription entertainment service SiriusXM, Witz runs the ad-supported Pandora streaming platform and is looking to lead the ad-driven podcast business by bringing top marketing brands to that growing audio content market.

“Some brands are sitting on the sidelines until...

SiriusXM CEO Jennifer Witz made $7.1 million 2022, compared to $32.6 million in 2021, according to a company filing with the Securities and Exchange Commission.

Witz made a base salary of $1.75 million last year, compared to $1.74 million in 2021. The CEO had waived any increase to her base salary that would be required in 2022 or 2023, according to the filing.

However, she did not receive any stock awards or other option awards in 2022, as her 2021 equity award was intended to cover a multi-year period. She received $15 million in stock awards and other option awards of $9.5 million in 2021.

She received a bonus of $4.1 million, compared to a bonus of $6.1 million the previous year. All other compensation amounted to $1.3 million compared to $300,334 in 2021. Witz has been CEO of SiriusXM since Jan. 1, 2021.

Also at SiriusXM, CFO and Executive VP Sean S. Sullivan received overall compensation of $2.8 million compared to $7.6 million in 2021. Sullivan also did not receive equity awards in...

Sirius Xm Holdings said on Tuesday that Thomas Barry, currently its senior vp and controller, will become its chief financial officer, effective April 28. He will succeed Sean Sullivan, who is stepping down from the role of CFO “to pursue another opportunity at a publicly traded company outside the industry.”

The transition will be effective following the April 27 release of SiriusXM’s first-quarter earnings and conference call.

Since 2009, Barry has served in his current SiriusXM roles and as chief accounting officer. “Barry played an integral role in guiding the post-merger integration of Sirius and Xm and subsequent acquisitions, including Pandora and the connected vehicle business,” the company said. “Over the years, he has played a key role in organizational transformation, digital automation and cost optimization initiatives, while supporting rapid business revenue growth.”

Before joining SiriusXM, he served in finance roles at Reader’s Digest, Xerox Engineering Systems and Avon Products.

“Tom is...

SiriusXM is the latest media company to lay off staff as the industry retrenches. CEO Jennifer Witz said today the satellite radio broadcaster, podcaster, owner of streaming music service Pandora and home to Howard Stern, will be cutting 475 jobs, or 8% of its workforce “to secure the long-term health and profitability of our business.”

She noted that cost cuts across the board, including in marketing, real estate and travel and entertainment, haven’t been enough to offset investments in the business this year “coupled with today’s uncertain economic environment.” The company needs “to think differently about how our organization is structured,” she said in a memo to staff.

Full memo from Witz:

Good Morning,

I have some difficult news to share. After a review of our business, we have made the decision to reduce the size of our workforce by 475 roles, or 8%. Unfortunately, this will mean saying goodbye to talented colleagues across the organization.

The layoffs impacting the media and entertainment industries have hit SiriusXM.

The satellite radio giant is laying off 475 people, or about 8 percent of its workforce, according to a memo to staff Monday from CEO Jennifer Witz. She said that “nearly every department across SiriusXM will be impacted,” and that employees will be notified Monday.

“We are entering into a new phase for our Company. The investments we are making in the business this year, coupled with today’s uncertain economic environment, require us to think differently about how our organization is structured,” Witz wrote, adding that the company has been reviewing its cost structure since November. “We streamlined our non-headcount costs by reducing content and marketing spend, decreasing our real estate footprint, and most recently, implementing tighter restrictions in our Travel and Entertainment policy. However, today’s decision to reduce our workforce was required in order for us to maintain a sustainably profitable company.

Audio entertainment company SiriusXM reported fourth-quarter results that were largely in line with Wall Street expectations, with total revenue of about 2.3 billion and earnings per share of 9 cents.

The company also adding 348,000 self-paying subscribers in the period. On a conference call with analysts, CEO Jennifer Witz, said average revenue per user hit a record high in 2022, while churn (the percentage of subscribers canceling) set a record low. She called that combination “a reflection of subscribers’ high satisfaction with the premium listening experience we continue to evolve and enhance.”

Wall Street had expected revenue of 2.3 billion and earnings of 8 cents a share.

The company issued 2023 financial guidance, including revenue of 9 billion. That would be flat with 2022.

Investors reacted negatively to the quarterly report and full-year outlook, sending shares in Sirius down almost 6 in early trading at around 5.50. They have recently slipped to their lowest level since 2020.

SiriusXM has diversified in recent years,...

Audio entertainment giant SiriusXM, the home of Howard Stern, reported Thursday that it added 162,000 self-pay subscribers in its satellite radio unit in the fourth quarter, but expects a “modest” drop this year amid economic and car industry challenges.

SiriusXM also said its paid promotional subscribers decreased by 28,000 in the final quarter of 2022. In the year-ago period, it had added 55,000 self-pay customers and lost 286,000 paid promotional users.

The total gain of 134,000 subscribers in the latest period compared with a loss of 231,000 in the year-ago period. As of the end of 2022, Sirius’ self-pay subscriber base stood at 32.4 million, with its total users reaching 34.3 million.

At its Pandora streaming business, the company lost 52,000 net self-pay subscribers in the final quarter of 2022, compared with a year-ago loss of 128,000. The company ended December with around 6.2 million total self-pay customers at Pandora.

The company’s quarterly advertising revenue dropped from 495 million in the year-ago period to 480 million.

Click here to read the full article.

Audio entertainment giant SiriusXM, the home of Howard Stern, said Tuesday that it added 187,000 self-pay subscribers in its satellite radio unit in the third quarter, while paid promotional subscribers decreased by 49,000.

In the year-ago period, it had added 616,000 self-pay customers and lost 828,000 paid promotional users. The total gain of 138,000 subscribers in the latest period compared with a loss of 212,000 in the year-ago period.

Sirius said its self-pay subscriber base stood at 32.2 million as of the end of September, with its total users reaching 34.2 million.

At its Pandora streaming business, the company lost 52,000 net self-pay subscribers in the third quarter, compared with a year-ago loss of 59,000. The company ended September with around 6.29 million total self-pay customers at Pandora.

Quarterly advertising revenue in the so-called Pandora and Off-Platform segment climbed 1 percent to 407 million, with the company’s podcasting and off-platform businesses generating 123 million, an increase...

Sirius Xm reported mixed earnings for the second quarter, but execs reaffirmed full-year financial guidance and pointed to forthcoming deals with emerging electric car makers and strong trends in on-demand app streaming as positive signs.

Wall Street analysts had expected the audio firm to deliver earnings per share of 8 cents and revenue of $2.24 billion. While revenue barely topped estimates at $2.25 billion, earnings came in at 7 cents, down from 10 cents in the year-earlier quarter.

Sirius said it added 23,000 net new self-pay subscribers and 54,000 paid promotional subscribers during the quarter, while churn remained steady at about 1.5%. Total subscriber levels closed the quarter on June 30 at 34 million.

In terms of programming initiatives, the company earlier this week re-upped with the NFL and today announced a new channel for Conan O’Brien’s Team Coco. It also said a recent team-up with Drake, whose Sound 42 channel premiered a previously unannounced show hosted by the musical...

Click here to read the full article.

Audio entertainment giant SiriusXM, the home of Howard Stern, said Thursday that it added 23,000 self-pay subscribers in its satellite radio unit in the first quarter, while paid promotional subscribers increased by 54,000.

Total subscribers stood at 34 million at the end of the latest financial quarter on June 30, with self-pay subscribers coming in at 32 million. Revenue in the second quarter rose 4 percent to 2.25 billion as SiriusXM pointed to headwinds from an “uncertain economic environment” threatening consumer spending, especially around new and used car sales.

“While we are confident that we can deliver positive self pay subscriber growth, we no longer expect to attain our prior subscriber guidance due to challenges and uncertainty in new and used auto sales. However, with strong predictable subscriber driven revenue, we are able to reiterate all of our financial guidance,” Jennifer Witz, CEO of SiriusXM, told analysts during a morning call.

Jessica Casano-Antonellis, a former senior exec at Disney who played a key role in the launches of Disney+ and ESPN+, has joined SiriusXM as SVP and head of communications.

She reports to Chief Marketing Officer Denise Karkosis and succeeds Patrick Reilly, who is leaving the audio company after a 17-year run.

Casano-Antonellis, who worked at digital video firm Vimeo prior to joining Disney, will oversee strategic communications, brand reputation management and media relations for SiriusXM.

“Jessica is a valued and respected leader who brings a wealth of strategic communications experience in the media, entertainment and technology industries to SiriusXM,” Karkos said in the official announcement. “She will be an incredible asset to the company and will play a key role as we continue to tell the story of SiriusXM as a leader in audio entertainment.”

After beginning her Disney tenure in 2018, Casano-Antonellis contributed to the launch efforts for ESPN+ that...

Satellite ratio and podcasting streamer SiriusXM returned to profit in the fourth quarter, posting net income of 8 cents a share, compared with a loss of 16 cents in the year-earlier period.

Revenue increased 4% to almost $2.3 billion. Both revenue and income beat Wall Street analysts’ expectations. The fourth quarter and full year 2020 was impacted by a $976 million non-cash impairment charge associated with Pandora.

On the company’s 45-minute earnings call with Wall Street analysts, there was no mention of the controversy facing the podcast and streaming audio sector more broadly. After objecting to Covid misinformation on Joe Rogan’s top-rated Spotify podcast, musical artists like Neil Young and Joni Mitchell and a number of others have pulled their music from the service. A day after Young’s catalog left Spotify, SiriusXM relaunched its all-Young channel for a limited run, saying it “will provide fans access to the entire musical world” of the artist.

Joe Inzerillo, a key architect of Disney Plus and the company’s other streaming services, is joining SiriusXM as chief product and technology officer.

Inzerillo starts at SiriusXM on Jan. 10, 2022, and will report directly to CEO Jennifer Witz. He will lead a team of more than 1,500 engineers, product leaders and technology professionals. Going forward, Inzerillo also will oversee SiriusXM’s It and broadcast infrastructure teams.

The company also announced that chief innovation officer Jim Cady, who has been serving as interim head of product development, will retire after eight years at the company. Cady will work with Inzerillo until the end of February 2022 as part of a transition period.

In the new role, Inzerillo will set and lead the implementation of SiriusXM’s product road map, satellite infrastructure enhancements, and technology strategy across all SiriusXM platforms.

Inzerillo most recently was as EVP and chief technology officer of Disney Streaming, where...

Audio entertainment giant SiriusXM, the home of Howard Stern, is confident in its traditional core business and growing new areas, CEO Jennifer Witz said on Monday.

Speaking at the virtual Bank of America Securities 2021 Media, Communications and Entertainment Conference, she said while “the car will remain the foundation of our business” that “increasingly our growth going forward will come outside of the car, with both digital subscriptions and from our ad platform.”

Asked about her biggest concerns for the business, Witz said, “I worry about a recession” or economic pullback, because SiriusXM offers “a ...