SiriusXM is a satellite radio giant that is gearing up for an aggressive push in the streaming music space. The company is looking to attract a larger market share of younger consumers by launching a new version of its platform on mobile devices and in cars, lowering its subscription price, and debuting new channels and shows.
The CEO of SiriusXM, Jennifer Witz, stated in an interview with The Hollywood Reporter that the focus on the “next generation” of subscribers is a key part of the company’s strategy. The company is shifting its streaming strategy from being a complement to the in-car offering to something that is compelling in its own right.
Witz mentioned, “We have a lot of our consumers, our subscribers streaming today outside of the car, and the app was originally designed basically as a companion to what you have in the car. This is really our first chance to nail something that stands on its own, and can really be a complementary audio service to whatever other music service you might have, because of the breadth of content we have.”
At an event in New York City, SiriusXM rolled out its new platform along with a number of new deals. The new streaming service is available at a reduced price of $9.99 per month, undercutting other streaming services such as Spotify and Apple Music. The new platform is designed to be sleeker and faster, offering a combination of algorithmically-driven suggestions with human-curated channels and playlists.
The company also announced several new channels and shows at the event. These include a new Kelly Clarkson channel, curated channels by John Mayer, a true crime channel led by audiochuck’s Ashley Flowers, year-round channels from Shaggy and Smokey Robinson, and a limited-time channel from Dolly Parton. The company also showcased a diverse set of personalities such as Kelly Clarkson, John Mayer, Shaggy, Smokey Robinson, and Dolly Parton.
The announcement was accompanied by live appearances from various celebrities such as Howard Stern, Kevin Hart, Conan O’Brien, and Andy Cohen, demonstrating the breadth and depth of the company’s programming. Howard Stern, in particular, emphasized his admiration for satellite radio and the diverse range of content available on SiriusXM.
SiriusXM also struck deals with Hilton to make its content available in hotel rooms and teamed up with Amazon’s Audible to bring its audio content to SiriusXM, and some SiriusXM content to Audible subscribers. There will be a renewed focus on content discovery in the refreshed app, with an emphasis on curated content by human hosts and artists.
According to Scott Greenstein, the chief content officer at SiriusXM, their secret sauce lies in their ability to understand the unique audio preferences of each individual by leveraging both human and algorithmic recommendations for an optimal listening experience.
All these initiatives are part of SiriusXM’s bold move to capture the attention and loyalty of younger consumers and establish itself as a significant player in the streaming music space. With a revamped platform, new price points, and a focus on curated content and discovery, the company is aiming to position itself as a strong contender in the competitive streaming music market.
