2024-03-11 14:19:09 ET
Sirius XM Holdings Inc. (SIRI)
Deutsche Bank 32nd Annual Media, Internet & Telecom Conference
March 11, 2024 11:20 AM ET
Company Participants
Thomas Barry - Chief Financial Officer
Conference Call Participants
Bryan Kraft - Deutsche Bank
Presentation
Bryan Kraft
Thanks, everyone, for joining us for this session. I'm Bryan Kraft from Deutsche Bank and really happy to introduce Tom Barry, who's the CFO of Sirius XM. Tom, welcome.
Thomas Barry
Thank you, Bryan. I'm excited to be here.
Bryan Kraft
I guess to start off and Sirius XM is in the middle of a transition as management works to bring the company back to a positive self-pay subscriber growth trajectory and also to positive revenue, EBITDA and free cash flow growth. Could you walk us through the factors that have contributed to the subscriber headwinds in 2023 and explain just the range of actions that management is taking to improve results going forward and get back on that growth track?
Thomas Barry
Sure, Bryan. Thank you. If you look at the overall business, we're really focused on the value proposition to our subscribers. We have unique content that we're very proud of. It's very broad. And it reaches all the way from our core music to our talk, to our podcast, to our news. And as you look at broadly at all the different content, we're looking at investing in technology and the technology is going to leverage and allow us to increase the control and the discovery of our content. We believe our unique content to better able to reach the content, the better off and only create a larger level of engagement for our subscribers. And then finally, our third focus is on pricing and packaging, which we are in the early stages of assessing that.
So when I look at the content side, content is always something that we're evolving as we look to reach a broader from our core subscriber base. As we start looking at more growth, subscriber-wise, we're looking at incremental content. So we recently, in the last three months, we signed John Mayer to curate a channel for us as we did Kelly Clarkson. So two stars that have actually created a buzz around their curated channels....
Read the full article on Seeking Alpha
For further details see:
Sirius XM Holdings Inc. (SIRI) Deutsche Bank 32nd Annual Media, Internet & Telecom Conference (Transcript)