SiriusXM's Content Plan Strategy Under Evaluation as Ad Growth Remains Slow
SiriusXM reported a narrowed decline in self-pay subscribers in its satellite radio unit for the second quarter, losing 132,000 compared to a loss of 347,000 in the previous quarter. The company gained 155,000 paid promotional subscribers and highlighted a sequential improvement in self-pay net subscriber additions. CEO Jennifer Witz emphasized the strength of their sales offerings and expressed cautious optimism for year-over-year improvement in ad revenue. SiriusXM is evaluating content packaging and pricing ahead of the launch of its next-generation streaming app, aiming to attract younger, more diverse audiences. The company also highlighted its efforts to capture growing demand for country and Latin music, as well as kids' programming.