SiriusXM has introduced a new version of its app that is set to integrate its flagship satellite service, music streaming platform Pandora, and its podcasts. The app is scheduled to launch on mobile on December 14th and will be available in cars in the following year.
As audience preferences shift away from traditional and satellite radio, SiriusXM has been working to expand its offerings beyond its core service. Over the past five years, the company has acquired Pandora and Stitcher, but up until now, these entities have largely remained separate. The new app represents SiriusXM’s most significant effort to integrate its diverse audio offerings.
According to Joseph Inzerillo, SiriusXM’s chief product officer, the goal of the new app is to provide users with the ability to easily discover and listen to live, on-demand, and podcast content.
This updated app will include an improved search feature that aggregates results across all three audio services. It will also offer personalized recommendations based on a user’s listening history. Car listeners will have access to artist stations and podcasts, in addition to the traditional satellite stations, and the car app will provide seamless continuity from where a listener left off on their phone. With these updates, the new app is poised to compete with established platforms like Spotify.
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Furthermore, the mobile app will be available as a standalone offering for $9.99 per month, down from the current $10.99 per month for SiriusXM’s “streaming only” package.
In a move similar to Spotify, SiriusXM has also announced a partnership with Amazon-owned Audible to bring audiobook content to its service, starting in early 2024.
Consolidating its various audience demographics is a crucial objective for SiriusXM. The company recently reported a loss of 94,000 satellite subscribers and 112,000 Pandora subscribers in the last quarter, following steeper losses earlier in the year. On the other hand, podcasting has experienced a 28% year-over-year growth. However, this ad-based business is generally less profitable than subscription-based models.
To bridge the gap between its non-paying podcast audience and subscription base, SiriusXM is focusing on attracting high-profile talent to its platform. For instance, the company recently signed former Late Late Show host James Corden to host an exclusive weekly celebrity chat show. Additionally, SiriusXM acquired Conan O’Brien’s production company Team Coco and its extensive podcast network. The company also maintains its longstanding relationship with radio personality Howard Stern.
During the recent event, Howard Stern expressed his enthusiasm for SiriusXM, stating, “My enthusiasm for this company is through the roof. I love it here.”
Through its new logo, SiriusXM is signaling a shift in its audience and programming. The updated logo removes the radio waves from the brand’s name and incorporates a star into the capital S, symbolizing the promise of star-powered programming.
In summary, SiriusXM’s revamped app represents a strategic move to consolidate its audio offerings and cater to evolving consumer preferences. With the integration of its satellite service, Pandora, and podcasts, the company aims to attract a wider audience and enhance its position in the audio entertainment space.
