We expected Q1 to be a low point in terms of net adds. It continues to be supported by the millions of trial starts we generate each quarter through our robust and long-term OEM partnerships. On conversion rate, so I talked a bit about this on the last call, but just to add some more color, Conversion rates are continuing to trend in the low 30s for new car in the low 20s for used. Subscribe to Sling, Fubo TV, or DirecTV Stream to get Newsmax TV on your iOS device. Talk to you later. Certainly, there's still uncertainty in the second half, I think, but we are hopeful that the market will continue to recover and the great thing about our guidance is that even the cost reductions we put in place, we're really well-positioned even if the market trends a little softer going forward. And we will continue to be active in generating trials. Moving forward, we value a strong balance sheet that provides us with flexibility to navigate a variety of future environments. Free HBO Max, Showtime, Starz, and Cinemax. The other two components of Sirius XM's full-year outlook -- adjusted But SiriusXM has their own ad-revenue on those news shows. Image source: The Motley Fool. Thanks. Scott M. on Twitter: "Same in my house! @FoxNews won't be on Investors already saw that happen with the Pandora streaming service in 2022. Im glad you extended your tenure in the media industry here and to Tom, congratulations. WebPolitical news and talk from all sides with Julie Mason, Michael Smerconish, Dan Abrams, Laura Coates, and more. And, Sean, best of luck in your new opportunity. We extended agreements with the NHL and NASCAR ensuring continued access for our subscribers for years to come. Back out the acquisition of the Pandora streaming service that artificially inflated top-line results in 2019, and Sirius XM investors have been treated to eight consecutive years of single-digit organic revenue growth. With more than a decades experience working closely together, I know that Toms 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. Thanks for that color. Listen online or download the iHeart App. As we previously discussed, CapEx should increase by some 200 million for the full year 2023 as we ramp SXM-11 and SXM-12 on top of ongoing preparation for SXM-9 and SXM-10. You called out the partnership with Walmart Plus announced in the quarter. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Published: April 25, 2023. Joel Osteen Gets His Own SiriusXM Satellite Radio Channel By Newsmax Wires | Tuesday, 03 June 2014 06:35 AM EDT Comment Print A A Joel Osteen's "America's Night of Hope" at Yankee Stadium on Saturday will introduce national listeners to the Texas pastor's own channel on SiriusXM satellite radio. For Sirius XM radio, Sirius XM packages can be bought. And then to your question on streaming net ads, we did -- to some extent, we've gone through this hurdle of the reduced marketing spend we had in the fourth quarter, and now we're operating at a much more efficient level. Our extensive portfolio includes chart-topping podcasts by Earwolf and Team Coco and exclusive channels featuring A-list talent like Andy Cohen Inks and Conan OBrien. And once again, we saw the seasonally higher churn we tend to see in Q1. With that, Ill hand the call over to Jennifer. Podcast And Satellite Radio Businesses Will Be More Closely To remove a favorite from Sirius XM, try: Step 1: Go to the SiriusXM website and sign in to your account. Overall ad revenue slid 2% from a year earlier to $375 million, but Witz called those results solid and said SiriusXM benefited from its investments in ad tech, especially for its programmatic sales platform. WebA 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. Shows & Schedules 124 Listen Live SiriusXM Patriot By. We have a service with very high satisfaction, low churn, and one of the leading ARPUs across direct-to-consumer media, not just audio. I was hoping you can maybe talk a little bit more about the third-party distribution strategy. And whereas other services you need to sign up for a data plan, we cover the data costs ourselves. Newsmax This contributed to the expected negative subscriber growth in the quarter. Username. So Q1 was impacted, as we said, by lower fourth-quarter trials and then third quarter, but Q1 trials have been stronger -- were stronger than Q4. Itd be great to maybe hear how youre thinking more broadly about leveraging capital allocation. Tags: Financials Pandora Radio SiriusXM. Invest better with The Motley Fool. At this time all participants are in a listen-only mode. Additionally, we are ramping up our marketing technology capabilities to better leverage our rich content to deliver more personalized messaging in our marketing efforts. Thank you. We haven't changed the guidance on subscribers, so still expecting modestly negative for the year. SiriusXM Prices and Packages. And just on the categories, its been continued improvement in travel, restaurants, casino, even automotive is coming back more, which makes sense and then softness in telecom and some financial services. Here, you're seeing the normal effects of seasonally light ad revenue in the first quarter, combined with recent ad headwinds plus the CPI inflator to web streaming royalties. 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. SIRI earnings call for the period ending March 31, 2023. The company says it ended the first quarter with 46.7 million monthly active users, an eight percent decline from a year earlier. This decline of $114 million is principally the result of increased satellite capex of $103 million as we invested the construction of SXM-11 and 12 and a one-time severance payment of approximately $15 million related to our cost optimization strategy. Listeners can hear Kevin show Gold Minds on all major podcast platforms with extended episodes available early to subscribers on his Laugh Out Loud radio channel only on SiriusXM. Our final question is from the line of Matthew Harrigan with The Benchmark Company. Great. Sirius XM has an incredibly solid, profitable business today that benefits from a loyal subscriber base and enviable margins. Our total new and used car penetration rate was 80% and 55% respectively, and our enabled fleet stands at about 154 million vehicles. Politics Radio: News, Analysis & Opinion | SiriusXM Copyright 2022 Flixed, Inc. All Rights Reserved. Sirius XM Stock Has a Lot to Prove This Week, 3 Nasdaq 100 Stocks That Are No-Brainer Buys in April, I Wouldn't Touch This Stock With a 10-Foot Pole 10 Years Ago -- Now I Can't Stop Buying Shares. Subscribe for FREE! Sirius XM's guidance implies that its self-pay subscriber count will decline this year. Listen to music, live sports radio, the best talk and entertainment radio. Maybe for Jennifer on distribution. You can also use it to listen to live events, such as concerts or political debates. Tom, take it away. Same in my house! This contributed to the expected negative subscriber growth in the quarter. WebSiriusXM Satellite Radio is a broadcasting company that offers subscription services that allow you to listen to various channels of music, news, sports, and entertainment. Certainly, theres still uncertainty in the second half I think, but we are hopeful that the market will continue to recover. As we begin, Id like to remind our listeners that todays call will include discussions about both actual results and adjusted results. And programming and content expenses climbed 6% due to increased licensing fee and production costs. If you have an ad-blocker enabled you may be blocked from proceeding. WebSiriusXM Satellite Radio Online Account Center. During a conference call with Wall Street analysts, she revealed that SiriusXM combined its podcast group and comedy and entertainment group into one unit during the first quarter. Sirius made the launch in July of 2000 which is 43 years later than the famous Sputnik. Flixed.io's contributors and editorial team will often recommend products we believe to be useful for our readers. Hooper Stevens. [Operator Instructions] Thank you. We were up about 9 points from 2019 to 2022. First, Sean, good luck. And is it really the downward pressure we've seen over the last few years had a lot to do with the dramatic increase we saw in pen rates over that time period. Delete Presets on Sirius Radio Great. At the intersection of the two, our programmatic podcast sales doubled year over year, albeit off a small base, and contributed to overall podcast ad revenue growth of 34%. Satellite Radio And then maybe just one for Tom, just since its your first call as CFO, follow-up to James question. The reversal isn't necessarily permanent, but it will sting in the near term. I would like to remind everyone that certain statements made during the call might be forward-looking statements as the term is defined in the Private Securities Litigation Reform Act of 1995. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. So we believe no matter what path the OEM chooses we'll be really well-positioned there. We expect to see more rapid feature adoption tied to automakers' incorporation of the Android Automotive Operating System with our 360L platform beginning later this year. We have seen the percentage of listeners consuming these genres more than double versus a year ago, driven by younger audiences who value the more controlled listening experience. A question-and-answer session will follow the formal presentation. So I wouldn't expect to see major changes in our streaming net ads until after that. How to Watch NewsmaxTV Live Without Cable in 2023 Gross profit in the Pandora and Off-Platform segment was 111 million, down 19% in representing a margin of 24%. Listen Page - Newsmax Broadcasting Inc So it's rolling out. Transitioning from a one size fits all approach to a dynamic multi-channel individualized approach, well promote only heard hear moments and exclusive talent to drive subscriber conversions among their fans. And we are just getting started. *Average returns of all recommendations since inception. Invest better with The Motley Fool. SiriusXM We also delivered better-than-expected ad revenue, partly due to our leading self-service and programmatic solutions that are allowing us to capture closed-end bookings, and I will address this more in a few minutes. How sizable of a trial acquisition funnel you think that could become over the next few years? Talk to you later. Complete replay of the nationally syndicated talk radio show "The Rob Carson Show" by Newsmax Radio. Sure. We're investing in satellites. I mean, the economy, we just had a soft GDP number a couple minutes ago. SiriusXM Player: Online Radio, Music, Sports, News, Podcasts & Talk Bring music & Jennifer, could you talk a little bit about the subscriber outlook for the rest of the year in particular, what are the things that are going to allow for the streaming only subscriber losses to sort of moderate? I will now turn the call over to Sean for some brief remarks, and then Tom will go through the financials in more detail. So that pressure will abate to some extent. Sirius XM We had a really solid quarter with ad revenue down just 2%. And then over the last few years, especially during COVID, there was a massive acceleration in the percentage of millennials buying cars. How to Watch Newsmax TV Live Without Cable 2023 - Top 3 Our Q1 results were better than we expected certainly based on where trends were heading in December or January. A connected car offers cheaper alternatives. Our final question is from the line of Matthew Harrigan with Benchmark Company. Our next question comes from the line of Barton Crockett with Rosenblatt Securities. I'm glad you extended your tenure in the media industry here. Discover 400+ channels that include: * Ad-free music dedicated to your favorite decades, hits, styles, and genres. Yeah. Thank you. Theyre looking for more opportunities to more easily navigate the service. At this time, well be conducting a question-and-answer session. At this time, I'll turn the conference over to Hooper Stevens, senior vice president of investor relations and finance. So how do you think about conversion rates on new car trials today versus where you were historically, I think, in that sort of mid-30s range? And to the point on 360L, can you give us a sense of right now how material 360L is for your subscriber acquisitions? The Rob Carson Show gives you a humorous yet concerned analysis of daily political events and how they affect struggling Americans, as well as exclusive interviews with influential hard-hitting guests. Thanks, Matt. We believe our overall subscriber performance should also trend better quarter-over-quarter as the year progresses. Thanks, David. Not every app is available on Apple's App Store, but depending on the streaming service you. 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. Thanks, Matt. This will have positive implications to ARPU, conversion, retention and subscriber growth in 2024 and beyond. Please proceed with your questions. Here's where you can and can't watch Newsmax TV without cable. I'm truly excited about this opportunity and join the conversation with investors and analysts and meet many of you in the coming weeks. And right now, we're certainly seeing significant take-up in Android Automotive operating system, the integrated software from Google. And we're just in the phase of really testing and learning on these rollouts and we'll be much better positioned when we build out some of the capabilities in the new platform in terms of easier sales flows, better onboarding, more personalized recommendations to take advantage of these partnerships going forward. And secondly, regarding the satellite radio side, GM has announced that theyre planning on dropping Apple CarPlay. And yes, the trends that we saw in Q1 in large part are reversing as we go through the year. Could you give us a little bit of color on sort of the puts and takes there? I look forward to leveraging my experience of leading the Sirius XM controllers team to more broadly work with operations and the leadership team who shaped the companys long-term direction. Just since it's your first call as CFO, a follow-up to James' question. These and all forward-looking statements are based upon managements current beliefs and expectations and necessarily depend upon assumptions, data or methods that may be incorrect or imprecise. SiriusXM has an incredibly solid, profitable business today that benefits from a loyal subscriber base and enviable margins. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Were investing in our future. The channel features exclusive hosts such as Cam & Company from NRANews (until June 2018), David Webb, and Andrew Wilkow. Thanks, Matt. No, Newsmax TV isn't included in your Philo subscription. Gross profit in the SiriusXM segment declined 5% to $1.02 billion, representing a margin of 61%, down slightly from 2022 due to higher royalties. Sirius XM (SIRI) Q1 2023 Earnings Call Transcript, 3 Nasdaq 100 Stocks That Are No-Brainer Buys in April, I Wouldn't Touch This Stock With a 10-Foot Pole 10 Years Ago -- Now I Can't Stop Buying Shares. And then we just have these solutions in market for advertisers to come in and either buy across our network on an audience basis or buy show level and even custom integrations. In addition to satellite radio, customers who buy or lease an equipped vehicle are eligible to receive a 3-month trial subscription to one or more of the following services. Satellite Radio And then over time, in the years to come, it will get to 80% of our trial starts. 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? 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. Rick Munarriz has no position in any of the stocks mentioned. Advertising revenue of $334 million decreased slightly by 1% in the first quarter. This past quarter, we combined SiriusXM's podcast group and comedy and entertainment group into one unit. I also want to thank Sean for his many contributions these last few years and ensuring a smooth transition. Rob Carson's background includes writing comedy for the legendary late Rush Limbaugh, and many refer to Rob as "the modern-day Rush." These collaborations demonstrate our strategy of inviting people to experience Sirius XM in the way that suits them best. @FoxNews won't be on ANY of my TV's! I think, GM seems to be somewhat unique in that path. But my overall view is to work on obviously optimizing the business, support the growth of the business and position us for the year ahead. Additionally, we debuted our first-ever integrated billing with T-Mobile, expanding upon our existing six-month SiriusXM streaming offer and adding a Pandora Premium four-month trial offer, making it even easier for trialers to transition into paying subscribers. With an emphasis on politics, Gerry also brings his unique takes on major sports stories and cultural issues. To know which vehicle of yours is compatible with which radio, chec The satellite radio giant will carry every single pick live from Kansas City. Read our full review of Fubo TV and visit our TV guide to Fubo TV to find out what you can watch right now. Plenty of news shows are airing live now on DirecTV Stream. 13. And to Tom, congratulations. We'll start seeing it actually come through used car trial starts, as well as some of those early cars turnover. Good morning. Well, were still very strongly positioned with churn at just over 1.6%. Cost basis and return based on previous market day close. Thanks Matt. Apr 27, 2023, 8:00 a.m. SiriusXM executives left open the door to working with both men. The focus comes as advertising has more attention at SiriusXM, despite an ad market that is presenting challenges for most other companies. And while we may, in fact, be a potential or a logical home for anybody that fits into those voices. How sizable of a trial acquisition funnel you think that could become over the next few years, and maybe how you see that fitting into the broader digital strategy later this year. 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. But our team's pick for most people to watch . Podcasting ad revenue was up 34% year over year in the quarter, and that's due to the great content relationships we have on the representation side, our ability to bring brands into podcasting. Our new platform will streamline purchasing and usage in and out of the car and enhance the value of Sirius XM making our service worth the premium for a wider range of audience segments. 10 stocks we like better thanSirius XMWhen our analyst team hasa stock tip, it can pay to listen. So that sets us up well for the in-car funnel. Today, we'll have prepared For more information about those risks and uncertainties, please view SiriusXM's SEC filings and today's earnings release. Nonetheless, if you are looking for a conservative https://buff.ly/41pw0RC . Hi, good morning. What Channel is Newsmax on Sirius XM Radio? - hamtronics.com I will start on advertising and hand it over to Scott on your second question. You'll be missed. They showed a slight decline in its revenues: down 1.9% year-on-year to $2.14bn. In short, I am pleased with our financial performance this quarter and Im confident in our opportunity to expand our subscriber base as auto sales recover, and we launched the next generation Sirius XM experience later this year. And while that growth will continue, it's actually come down to more normalized level at this point. SiriusXM Satellite Radio Channel This past quarter, we combined Sirius XMs podcast group and comedy and entertainment group into one unit. SiriusXM bought Conan I would like to remind everyone that certain statements made during the call might be forward-looking statements as the term is defined in the Private Securities Litigation Reform Act of 1995. Jennifer, could you talk a little bit about the subscriber outlook for the rest of the year? ET. What is SiriusXM, What's On, Subscriptions, Shop and Listen Online. Thanks, Stephen. They showed a slight decline in its revenues: down 1.9% year-on-year to $2.14bn. And podcasting continues to be a bright spot. Newsmax So Q1 was impacted, as we said, by lower fourth quarter trials than third quarter. And I highlighted some of these metrics earlier, but we are seeing definitive increases in conversion rates for trialers, particularly younger trailers, who are using the features, but also just have 360L capable vehicles. We advise listeners to not rely unduly on forward-looking statements and disclaim any intent or obligation to update them. Here youve come in and youve updated financial guidance. Today, well have prepared remarks from Jennifer Witz, our Chief Executive Officer; Sean Sullivan, our Chief Financial Officer; and Tom Berry, who will assume the position of CFO tomorrow. Thank you. Thank you, Jennifer. Thank you for taking the question. AAOS will roll out in small volumes initially, but should grow materially to become the dominant OEM operating system improving 360L adoption and feature parody along the way. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially. Our next question is coming from the line of Stephen Laszczyk with Goldman Sachs. But we're not seeing any major changes in the market that I would highlight. Please proceed with your questions. As you know, it is a big part of our funnel but we have seen used car trial starts did increase in Q1 versus Q4, which sets us up well. And I believe that because we were really well positioned to capture late in quarter demand that came in as advertisers started to open up their budgets, because we have these programmatic solutions across music streaming and podcasting. If your radio is Sirius, only Sirius packages can be used. This will have positive implications to ARPU, conversion, retention, and subscriber growth in 2024 and beyond. The majority of our trial funnel as you would expect, is represented by the millions of trial starts that we do every year through our automotive partners. I'm focused on in the early days is a lot of what you'll see in raising our guidance in some of the other areas is we're investing a lot of time in our cost structure and ensuring that our spending and our cost optimization is headed the right direction with it in an effective manner. So I wouldnt expect to see major changes in our streaming net adds until after that. ET. In the first quarter, we outperformed our initial financial expectations, putting us in a strong position to increase our full year guidance for adjusted EBITDA and free cash flow. Sales and marketing expenses are lower by 17% as discussed, while engineering, design, and development expenses were up 15% on the back of new product investments. Published: April 25, 2023. Welcome to Sirius XMs first quarter 2023 earnings conference call. And it's driven a lot by the programming additions that we've made and the streaming access. Thanks, everybody, for participating today. We will also begin to see 360L capable vehicles in our used car trial starts as well. This new experience will emphasize simplicity and elegance, provide more control and discoverability, and drive greater consistency between in-car and streaming experiences, better catering to our subscribers as they increasingly listen across devices. And it's key to not only lift and conversion but also improved retention. Hey, great. Image source: The Motley Fool. In the Pandora and Off-Platform segment, total revenue was $462 million, nearly flat with prior year. And then secondly, its a bit of a more of a press question than an analyst question, its probably definitely falls into the diverse preferences of listeners buckets. Clearly, with negative 347,000 this quarter, we are expecting, as we said, improvements quarter over quarter. The satellite radio giant will carry every single pick live from Kansas City. I just saw a stat the other day that we watch quite frequently about intent to buy, and it's at one of the highest levels we've seen over the last couple of years. Or is there anything different that you can talk to at this point? We extended agreements with the NHL and NASCAR ensuring continued access for our subscribers for years to come. As it now looks to do build its digital business, the company is rethinking how that spoken word content is delivered. We are already beginning to see benefits from cost reductions implemented in Q1 across every element of our business. Thanks, David. But you just have two rather polarizing TV news personalities becoming available, albeit, some bad actor issues at Tucker Carlson, Don Lemon. Pleasure working with you and good luck on the next gig, keep them in the fairway. Yes, Barton. Sirius XM's guidance calls for $9 billion in revenue this year, flat with where it landed in 2022. No matter how or where they want to listen. The other two components of Sirius XM's full-year outlook -- adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of roughly $2.7 billion and $1.05 billion in free cash flow -- are well below last year's results.