SiriusXM In closing, I would also like to thank Sean for making this transition as seamless as possible. Listeners can hear Kevins show Gold Minds on all major podcast platforms with extended episodes available early to subscribers on his Laugh Out Loud Radio channel only on Sirius XM. Our very distribution models, subscription and ad supported reach audiences wherever and however they want to listen and bring value to the Sirius XM subscription as exemplified by recent deals with Kevin Hart, Kelly Ripa and Tom Brady. 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. Apr 27, 2023, 8:00 a.m. I will start on advertising and hand it over to Scott on your second question. That's due to the great content relationships, we have, on the representation side, and our ability to bring brands into podcasting, Witz said. https://buff.ly/41pw0RC . WebIndeed, there is no Newsmax on Sirius XM since the corporation strives to keep its networks fair and independent. The satellite radio giant will carry every single pick live from Kansas City. 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. Sirius XM Holdings Inc. (NASDAQ:NASDAQ:SIRI) Q1 2023 Earnings Conference Call April 27, 2023 8:00 AM ETCompany ParticipantsHooper Stevens Senior What channel is NewsMax on Sirius XM And to Tom, congratulations. Our ad-supported portfolio from Pandora to the SiriusXM Podcast Network, which also includes two of the largest Hispanic podcast networks with Pitaya and reVolver offers opportunities for advertisers to reach large and diverse audiences in audio. If it has a chance to turn things around, investors don't have to wait long for the next big test. Please proceed with your questions. The growth catalysts just aren't there. Thanks everybody for participating today. A question-and-answer session will follow the formal presentation. Scott Greenstein, our President and Chief Content Officer, will join Jennifer, Sean and Tom to take your questions during the Q&A portion of the call. Hey, great. While we continue to see opportunities for a bigger streaming-only business, car sales will remain the dominant driver of our subscriber funnel. Advertising revenue of $334 million decreased slightly by 1% in the first quarter. And whereas other services, you need to sign up for a data plan, we cover the data costs ourselves. Cayman Kelly Celebrates 19 Years on Satellite Radio - MarketWatch On the churn side, in car, Q1 is always seasonally soft for us, and we anticipate that to be true for this year as well. The fourth quarter's trial starts declined sequentially by 3% and 7% for new and used vehicles, respectively, and this reduced conversion opportunities for us in the first quarter. And we do expect auto sales to continue to grow. Check out what's airing right now in our TV Guide. So I think you were saying on the last quarter call that, well, you werent formally guiding for a number for subs for this year. With strong similarities between talk radio and podcasts, we can do more to seamlessly integrate them across our service and provide more control and discoverability for subscribers, Witz said Thursday. Other channels on DirecTV Stream include: Cable News Network, HLN, Turner Classic Movies, TV Land, A&E, AMC, BET, Bravo, Comedy Central, Discovery Family Channel, E! Youll be missed. And just on the categories, it's been continued improvement in travel, restaurants, casino, even automotive is coming back more, which makes sense, and then softness in telecom and financial services. Thursday's report will be challenging. Gross profit in the Sirius XM segment declined 5% to 1.02 billion, representing a margin of 61%, down slightly from 2022 due to higher royalties. Theyjust revealed what they believe are thetenbest stocksfor investors to buy right now and Sirius XMwasn't one of them! And on that note, Tom, if you could just give us an idea, your key priorities coming into the role, sort of what's at the top of the bullet point list on the whiteboard in your office? 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. As it now looks to do build its digital business, the company is rethinking how that spoken word content is delivered. The satellite radio giant will carry every single pick live from Kansas City. Its growth is as pedestrian as it is predictable. How to Watch NewsmaxTV Live Without Cable in 2023 Tom, take it away. Were looking at opportunities Greetings. All discussions of adjusted operating results exclude the effects of stock-based compensation. Pandora revenue was down a modest one percent to $462 million during the quarter while its ad-based revenue remained relatively flat at $334 million. It continues to be supported by the millions of trial starts we generate each quarter through our robust and long-term OEM partnerships. Steven Cahall -- Wells Fargo Securities -- Analyst. Thank you. Were in about I think its about a third of our new car trial starts have 360L currently that will increase to about 40% by the end of the year. Our Q1 results were better than we expected, certainly based on where trends were heading in December or January, we had a really solid quarter with ad revenue down just 2%. Pandoras ad hours were 2.59 billion, declined just 4% year-over-year as hours per active users climbed 4.5% with 21 hours per month. Partnership is sort of an untapped opportunity. New Home For Tucker Carlson Or Don Lemon? You can also use it to listen to live events, such as concerts or political debates. Newsmax | iHeart Maybe for Jennifer on distribution, you called out the partnership with Walmart+ announcing the quarter. As we approach the launch of our next-generation SiriusXM experience, we are confident that the upgrades will boost engagement and customer satisfaction for in-car and streaming-only customers alike. 10 stocks we like better thanSirius XMWhen our analyst team hasa stock tip, it can pay to listen. Satellite Radio Additionally, we are ramping up our marketing technology capabilities to better leverage our rich content to deliver more personalized messaging in our marketing efforts. Normally, investors hope for a beat, but in this case, it could be a matter of just hoping that things aren't worse. As we begin, Id like to remind our listeners that todays call will include. 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. SiriusXM Satellite Radio Plans and Subscription Tiers SiriusXM offers two plan types. DirecTV Stream plans start at $69.99. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Whether you have a Fire TV Stick or a Cube or another device, you can get access to Newsmax TV. Sirius XM has an incredibly solid, profitable business today that benefits from a loyal subscriber base and enviable margins. Cost basis and return based on previous market day close. And we do expect auto sales to continue to grow. We're investing in the new platforms. While this is a great indicator of what's to come, these features are currently only available in a limited number of 360L-enabled vehicles and awareness of these features is still low. And in particular, with Walmart, we're testing an offer that allows consumers to choose, do they want satellite trial or in-car trial or a streaming trial. Newsmax's Steve Malzberg Show To Air On SiriusXM - All Access Plenty of news shows are airing live now on DirecTV Stream. Same in my house! Look forward to working with you. Scott, you want to --, Scott Greenstein -- President and Chief Content Officer. But were going to continue with our disciplined approach as weve used over the last couple years. Thanks, Matt. WebSiriusXM delivers a broad range of information directly to your cars navigation system. SIRI earnings call for the period ending March 31, 2023. So your commentary on the intent to buy and the improving funnel sounds constructive. Sirius XM Despite its lack of ESPN, the service offers almost every league, including NFL, NBA, MLB, NHL, and more. @SIRIUSXM is. This gives us a general idea of the trajectory and the scope of spending. Thanks Matt. This contributed to the expected negative subscriber growth in the quarter. Thank you. The channel features exclusive hosts such as Cam & Company from NRANews (until June 2018), David Webb, and Andrew Wilkow. SiriusXM So some OEMs will choose to pay for the trial and receive a higher subsidy and obviously, there's the impact of revenue share as well. You called out the partnership with Walmart Plus announced in the quarter. Just subscribe to Sling, Fubo TV, or DirecTV Stream to get Newsmax TV on your Android smart TV. So I wouldnt expect to see major changes in our streaming net adds until after that. And Sean, best of luck in your new opportunity. And in March, we started to see that tail off a little bit. Like how should we think about the cadence of ARPU from here this year? Moving forward, we value a strong balance sheet that provides us with flexibility to navigate a variety of future environments. We are confident that the upgrade will boost engagement and customer satisfaction for indoor and streaming only customers alike, she said. And Im excited to see how this year shapes up. If you're trying to watch Newsmax TV without cable and you also watch a lot of sports, Fubo TV is probably the best pick for you. Well continue our current process of being cautious and disciplined. SiriusXM Invest better with The Motley Fool. And we're up about 9 points from 2019 to 2022. Thanks, Matt. And it's key to not only lift and conversion but also improved retention. But positioning for the future, we have had a long history since we launched annual average increases in ARPU of about 3%. But you just have two rather polarizing TV news personalities becoming available, albeit, some bad actor issues at Tucker Carlson, Don Lemon. We have a service with very high satisfaction, low churn, and one of the leading ARPUs across direct-to-consumer media, not just audio. What do you see as the right leverage profile, the right mix of capital returns? If you're someone who watches a lot of news, you probably want to subscribe to a streamer with access to the most popular news channels. We see significant in-car conversion improvements when trialers engage with features that enable more control in discovery, including our more targeted extra channels, Pandora artist stations, and enhanced recommendations. Devices supported by Fubo TV include: web browsers, Android, iOS, Amazon Fire, Roku, Chromecast, Apple TV, LG/Samsung Smart TVs, and Xbox One. And I think, ultimately, ARPU as well because we can deliver even more content and features to our subscribers. These collaborations demonstrate our strategy of inviting people to experience SiriusXM in the way that suits them best. Our strong distribution, investment in new product offerings and our unmatched content offering that provided a foundation for future growth. And CSAT is at an all time our customer satisfaction is at an all-time high since 2009. And how the new next generation Sirius XM experience will help improve that over the course of 2023? And once again, we saw the seasonally higher churn we tend to see in Q1. James Ratcliffe -- Evercore ISI -- Analyst. We ended the quarter with a leverage at 3.4 times, which is within our targeted range of low to mid-threes. 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. Thats very helpful. *Average returns of all recommendations since inception. 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. Thanks. Just since it's your first call as CFO, a follow-up to James' question. Thank you, and good morning, everyone. Mr. Stevens, you may now begin. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially. Well start seeing it actually come through used car trial starts as well as some of those early cars turn over. And as Tom referenced earlier, we also expect each quarter going forward to be better to the prior quarter. SiriusXM Prices and Packages Access My Account. With a huge number of subscription plans covering every conceivable way to get entertained, Sirius XM is one of the best entertainment platforms around for sure. Sirius XM's guidance calls for $9 billion in revenue this year, flat with where it landed in 2022. 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. Download the SiriusXM Dealer App. This contributed to the expected negative subscriber growth in the quarter. What do you see as the right leverage profile, the right mix of capital returns, anything different here going forward that we should be mindful of relative that we thought about it in the past? I know pen rates are higher now, competition is maybe a bit higher now, 360L mix also sounds like tracking up nicely. Thanks, Steven. WebListen to music, live sports play-by-play, talk & entertainment radio and & favorite podcasts. 360L mix is also sounds like tracking up nicely. WebWhat channel is NewsMax on Sirius XM Sirius M offers a delightful variety of channels designed to suit anyones taste. But our team's pick for most people to watch Newsmax TV, is Sling. And we're really focused, again, heads down on investing in this new platform and making sure that that positions us for growth going forward. All of this is a testament to our leading position in talk audio, and we will continue to leverage our world-class content to draw in new SiriusXM subscribers while also giving ad-supported listeners access to our high-quality programming. But the streaming trial funnel, our challenge has not been trial generation, and we've put very distinct guardrails in place in how we're active and Performance Media in bringing trials into the funnel. Before jumping into the quarter's results, I'd like to welcome Tom Barry as our incoming chief financial officer. @FoxNews won't be on ANY of my TV's! SiriusXM 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. Thank you, Sean, and thank you, Jennifer. 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. Welcome to SiriusXM's first quarter 2023 operating and financial results conference call. Thank you, and good morning, everyone. Anything different here going forward that we should be mindful of relative to that we thought about it in the past? As we develop our new SiriusXM platform, we are rethinking how we surface and deliver talk content and see opportunities to better combine live shows with on-demand podcasts to serve the diverse preferences of listeners. Get your subscription for $40 per month and get access to Newsmax TV and others, like Bloomberg, BBC America, and Cheddar Business. WebNewsmax isn't a paid service (for the listener) and depend on ad revenue. And the great thing about our guidance is that if in the cost reductions weve put in place, were really well positioned, even if the market trends a little softer going forward. Thanks for that color. Talk to you later. In the Pandora and off-platform segment, total revenue was $462 million, nearly flat with prior year. This satellite capex spending will be in the $300 million range per year in 2023 and 2024, before declining to approximately $175 million in 2025, approximately $80 million in 2026, and approximately $20 million in 2027. Please. One, we don't comment on anything we're looking at directly. ET. On the churn side, in-car, Q1 is always seasonally soft for us, and we anticipate that to be true for this year as well. Published: April 25, 2023. In particular, what are the things that are going to allow for the streaming-only subscriber losses sort of moderate? 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