This past quarter, we combined SiriusXM's podcast group and comedy and entertainment group into one unit. Pandora revenue was down a modest one percent to $462 million during the quarter while its ad-based revenue remained relatively flat at $334 million. Please proceed with your question. Any commentary on how those are contributing to either the modest decline or the growing funnel and what we should expect for used car activity this year? I was wondering if you talk a little bit to conversion rates. Sirius XM reports its first-quarter results on Thursday morning. With a huge number of subscription plans covering every conceivable way to get entertained, Sirius XM is one of the best entertainment platforms around for sure. So we believe no matter what path the OEM chooses we'll be really well-positioned there. And secondly, we look at the totality of the package between the talent, the issues that allow them to be freed to negotiate and other things. SiriusXM reported a rare drop in satellite radio users for the first quarter, and it told analysts to expect those figures to trend downwards throughout 2023. Listen to Live callers vent their frustrations with the corrupt career politicians on Capitol Hill, hilarious music political parodies from Jim Gossett, and above all, DON'T CATCH THE STUPID!!! Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. WebListen to music, live sports play-by-play, talk & entertainment radio and & favorite podcasts. Music, radio and podcasts, all free. Clearly, with negative 347,000 this quarter, we are expecting, as we said, improvements quarter over quarter. Thanks. Like how should we think about the cadence of ARPU from here this year? Late last year, Newsmax ventured into radio with The Rob Carson Show in the noon-3 pm daypart at independently owned Talk Radio 680 WCBM Baltimore. Best Streaming Services for Local Channels, best overall streaming services for sports fans, How to Watch NewsNation Live Without Cable 2023 - Top 4 Options, Big families (or roommates or friends) can watch. SiriusXM bought Conan OBriens Team Coco last year in a $150 million deal that also included a five-year talent agreement for Team Coco staff to collaborate on content, including the new satellite So I think there is a case to be made for demand to start coming back, maybe some of the pent-up demand to be released and auto sales to slowly, but incrementally improve over the course of the year. And then maybe the same question sort of on the in-car business. Tags: Financials Pandora Radio SiriusXM. Normally, investors hope for a beat, but in this case, it could be a matter of just hoping that things aren't worse. With upwards of a thousand hours of DVR space and multiple simultaneous streams available, youll never miss a game. WebSiriusXM Patriot is a conservative talk radio channel on Sirius Satellite Radio channel 125 and XM Satellite Radio channel 125 [1]. Self-pay net adds declined by 347,000 a quarter consistent with our expectations given lower fourth quarter vehicle and streaming trial starts combined with seasonally higher churn in the first quarter. And our ad technology business continues to be extremely profitable, growing about 20% year over year and partially offsetting broader headwinds during the first quarter. And on that note, Tom if you could just give us an idea, your key priorities coming into the role, sort of whats at the top of the bullet point list on the whiteboard in your office? We expect this margin to trend favorably for the remainder of the year. Sirius XM's guidance calls for $9 billion in revenue this year, flat with where it landed in 2022. Paying a premium for satellite radio isn't very compelling in this climate, where inflation and interest rates are gnawing away at discretionary income. In the Pandora and Off-Platform segment, total revenue was $462 million, nearly flat with prior year. Against the splintering of sports rights in the video space, we offer incredible value as the one-stop audio home for all major sports, and it's powering record engagement of this content. SEE INFOTAINMENT DETAILS SIRIUSXM TRAVEL LINK And as we have always said, business models really do matter. Look forward to working with you. And in March, we started to see that tail off a little bit. Published: April 25, 2023. I was hoping you can maybe talk a little bit more about the third-party distribution strategy. They're looking for more opportunities to more easily navigate the service and 360L brings a lot of those features to life, and we are seeing even better conversion rates among younger trialers who have 360L relative to older generations and particularly our core audiences who know our service and are used to navigating it. SiriusXM I just saw a stat the other day that we watch quite frequently about intent to buy and its at one of the highest levels weve seen over the last couple of years. Please proceed with your questions. Sirius XM ( SIRI 1.35%) Q1 2023 Earnings Call. Earnings of $0.07 a share would be a small step down from the $0.08 a share it clocked in with a year earlier. Bye-Bye. Hooper Stevens. With more than a decade's experience working closely together, I know that Tom's deep institutional knowledge and broad finance experience will be invaluable as we drive growth across the business and continue our commitments to customers, employees, and shareholders. And as Tom referenced earlier, we also expect each quarter going forward to be better to the prior quarter. Sirius XM isn't trading at its lowest levels since early 2016 -- despite kicking off the year with a record 32.4 million self-pay subscribers and churn near its historical lows -- by accident. Hey, good morning. And as we have always said, business models really do matter. The OEM paid promotional revenue has been trending down over the last few years, and its really just one piece of the puzzle as we look at our economics with our OEM partners. Please proceed with your question. While the exact timing of construction milestone payments can inevitably shift. So we look at this probably more often than not, but we spend a lot of time looking at this. Sirius XM Analysts see a 0.7% decline in revenue for the first quarter. Password. Barrett Sports Media on Twitter: "Are you ready for the @NFL Draft A longtime Newsmax contributor, #1 rated radio host and successful columnist, Gerry Callahan calls it like he sees it and offers sharp commentary on the news of the day. At this time, Ill turn the conference over to Hooper Stevens, Senior Vice President of Investor Relations and Finance. Supporting this, first quarter vehicle trial starts were up 7% overall compared to the fourth quarter, including a 3% rebound in new vehicle trials and an 11% rebound in used vehicle trials. Theres so much to do here! We are already beginning to see benefits from cost reductions implemented in Q1 across every element of our business. Our new platform will streamline purchasing and usage in and out of the car, and enhance the value of SiriusXM, making our service worth the premium for a wider range of audience segments. The satellite radio giant will carry every single pick live from Kansas City. Satellite Radio With these trends and more targeted cost control initiatives, were now able to increase our full year guidance for adjusted EBITDA from $2.7 billion to approximately $2.75 billion and our free cash flow expectations from $1.05 billion to approximately $1.1 billion. Its growth is as pedestrian as it is predictable. Entertainment Television, ESPNU, Freeform, FX, INSP, Science, MTV2: Music Television, Animal Planet, BBC America, beIN Sports, CMT, CNBC, Disney Junior, Discovery Life Channel, and more. We have a service with very high satisfaction, low churn and one of the leading ARPUs across direct-to-consumer media, not just audio. This feature drives listener engagement that leads to higher retention. Thanks, David. CEO Jennifer Witz says there are opportunities to combine live radio shows with on-demand podcasts to better serve the listening preferences of its subscribers. Our very distribution models, subscription and ad supported reach audiences wherever and however they want to listen and bring value to the Sirius XM subscription as exemplified by recent deals with Kevin Hart, Kelly Ripa and Tom Brady. And as we noted, our Q1 was at 3.4 times, and we returned $161 million to shareholders in the first quarter, and we'll continue to be opportunistic for the remainder of the year. We're investing in our future. The change in royalties was driven by the expiration of the discounted rates on pre-1972 music as of the end of 2022 and a CRB announced 9% CPI inflator on webcasting performance rights and programming and content expenses climbed 6% due to increased licensing fee and production costs.
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