SiriusXM shifts focus to in-car customers post streaming growth

Just over a year ago, the US satellite-radio company SiriusXM unveiled their Next Big Thing: a $9.99-a-month subscription plan that includes music, talk, podcasts, and sports. How’s it been going? Well, their share price has dropped by more than half and their revenue and subscriber numbers have also decreased since the beginning of 2024. This week, they announced a shift in focus back to their core audience—those who use their satellite-radio services in their cars. In fact, 90% of SiriusXM’s subscribers currently use the service in their vehicles, so the company is concentrating on retaining them and finding new growth opportunities within this group. They’re not giving up on streaming, but they are viewing it as a complement to their primary car offering. It’s quite a turnaround from the excitement of their launch a year ago, which heralded a new era of innovation according to the company’s initial messaging.

In other news, Duolingo and Netflix have teamed up to remix the music from the hit show “Squid Game” for a new campaign. If you’ve been watching the show and found yourself intrigued by the music, this collaboration will definitely pique your interest. On another note, the first year of the Fortnite Festival saw gamers play a staggering 3.6 billion jam loops. Whether you’re a gamer yourself or just curious about the gaming world, this is a fascinating insight into the massive scale of events like these.

Lastly, Warner Music Group’s ADA has struck a deal with FaroLatino to increase their focus on Latin American music. It’s exciting to see major players in the music industry recognize the importance and potential of Latin American music and make moves to support and promote it further.

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