Sirius XM Holdings Inc. reports developments across its North American audio entertainment portfolio, including the flagship SiriusXM satellite and streaming subscription service, Pandora streaming services, a podcast network, and business and advertising solutions. Company news commonly covers operating and financial results, subscriber and advertising trends, programming across music, talk, news, and sports, and distribution through vehicles and streaming platforms.
Updates also include board-declared cash dividends, debt financing activity at Sirius XM Radio LLC, tender offers for senior notes, and advertising sales relationships handled through SiriusXM Media. These releases connect the company's subscription audio, ad-supported streaming, podcast, and advertising businesses with its capital-allocation and balance-sheet actions.
SiriusXM announced its coverage of the 2020 PGA Championship, taking place August 6-9 at TPC Harding Park, San Francisco. This marks the first major championship of 2020, impacted by COVID-19. Coverage will include live hole-by-hole commentary starting 4:00 PM ET for Thursday through Saturday and 3:00 PM ET on Sunday. The broadcast features a mix of on-site and remote reporting, focusing on safety protocols. SiriusXM emphasizes its commitment to delivering extensive golf coverage with exclusive programming and analysis throughout the Championship week.
Sirius XM reported Q2 2020 revenue of $1.9 billion, down 5% year-over-year. Net income was $243 million, down from $263 million. Adjusted EBITDA stood at $615 million, maintaining a margin of 32.8%. Self-pay subscribers grew by nearly 200,000, showing resilience amidst the COVID-19 pandemic, although advertising revenue plunged 34%. The company reinstituted share repurchases, spending $165 million for 29 million shares. Full-year guidance includes expectations of 500,000 new self-pay subscribers and $7.7 billion in revenue.
Pandora has launched UNINTERRUPTED Radio, a new exclusive station featuring music curated by top NBA and WNBA players, coinciding with the NBA's 2020 season resumption. Fans can listen to soundtracks used by athletes like LeBron James and A'ja Wilson. The station includes Modes for different listening experiences: Tip-Off, Vet, and Postgame. This initiative is part of SiriusXM and Pandora's collaboration with UNINTERRUPTED, aimed at connecting fans and athletes through music. UNINTERRUPTED's mission is to empower athletes by providing them a platform to express themselves.
SiriusXM is set to resume live NBA coverage starting July 30, 2020, featuring play-by-play broadcasts of all games, including playoffs and finals. Subscribers with the All Access plan can access games on various platforms, including the SiriusXM app. The season restart involves 22 teams playing eight seeding games until August 14, which will contribute to the final standings. The NBA playoffs will commence on August 17. SiriusXM NBA Radio will provide extensive coverage, featuring expert analysis and post-game shows, enhancing the fan experience during the season.
SiriusXM has partnered with Volkswagen to introduce SiriusXM with 360L in most model year 2021 vehicles. This advanced audio platform will be available in models such as the Arteon, Atlas Cross Sport, Golf GTI, and others equipped with the MIB3 infotainment system. Volkswagen purchasers will receive a three-month trial subscription of SiriusXM’s All Access package. The 360L service offers over 10,000 hours of on-demand content, enhanced sports offerings, and personalized recommendations, enhancing the in-car entertainment experience.
SiriusXM announces its coverage of the 2020 Major League Baseball (MLB) season, starting July 23 with live play-by-play broadcasts of all regular season and postseason games.
Subscribers will enjoy 30 dedicated channels for each MLB team, plus daily analysis on the MLB Network Radio channel. Key opening games include the Nationals vs. Yankees and Giants vs. Dodgers on July 23, and a full slate of 15 games on July 25. SiriusXM reaches over 100 million listeners monthly, enhancing its position as a leader in audio entertainment.
SiriusXM has announced the Just For Laughs Virtual Comedy Festival, scheduled to run from July 20-25, 2020, replacing the live event in Montreal. The festival features two one-hour specials daily across five SiriusXM comedy channels, showcasing renowned comedians like Kevin Hart and Howie Mandel. Listeners can enjoy iconic stand-up tracks and themed programming, including 24/7 coverage on Just For Laughs Canada channel. SiriusXM aims to engage its subscribers with unique virtual content, continuing its commitment to delivering entertainment during these times.
SiriusXM and BMW announced that the SiriusXM with 360L platform will debut in most 2021 BMW models starting in July 2020. This platform combines satellite and streaming content for an enhanced audio experience, offering over 10,000 hours of on-demand content and increased live channel access. BMW owners will receive a 12-month subscription to SiriusXM's All Access package. The service includes personalized content recommendations and the ability to create custom music stations. This partnership aims to elevate in-vehicle entertainment for BMW customers.
SiriusXM has announced that award-winning broadcaster Gayle King will host a new weekly call-in show titled Gayle King In the House. The show will air every Thursday at 5:00 pm ET on SiriusXM Stars channel 109, starting July 16, 2020. King aims to connect with listeners on hot-button issues affecting their lives, including civil unrest and health crises, featuring guest interviews. With her experience at CBS This Morning and O, The Oprah Magazine, King emphasizes the importance of community dialogue in these times. Subscribers can also enjoy promotional offers from SiriusXM.
Sirius XM Holdings Inc. (NASDAQ: SIRI) announced the appointment of Jonelle Procope as an independent member of its Board of Directors. Procope, who has extensive experience in the entertainment industry, currently serves as the President and CEO of the Apollo Theater Foundation. Chairman Gregory B. Maffei expressed confidence in her ability to enhance the company's growth and stockholder value. Procope aims to leverage her expertise to further SiriusXM's success in the audio entertainment sector during a pivotal time for the industry.