5.49 +0.01 (0.18%)
After hours: 5:31PM EDT
|Bid||5.45 x 46000|
|Ask||5.49 x 42300|
|Day's Range||5.32 - 5.51|
|52 Week Range||4.11 - 7.40|
|Beta (5Y Monthly)||1.22|
|PE Ratio (TTM)||23.83|
|Earnings Date||Jul. 28, 2020 - Aug. 03, 2020|
|Forward Dividend & Yield||0.05 (1.02%)|
|Ex-Dividend Date||May 07, 2020|
|1y Target Est||6.39|
Satellite radio veteran Sirius XM (NASDAQ: SIRI) has made millionaires before. Sirius XM saw its annual revenues rise by 86% over the last five years. Pandora added $1.6 billion to Sirius's sales last year.
(Bloomberg) -- Spotify Technology SA signed a deal with comedian and TV host Joe Rogan, gaining exclusive rights to one of the most popular and influential audio programs in the U.S. and sending its stock up more than 11%.Rogan will make his podcast, “The Joe Rogan Experience,” available on Spotify starting Sept. 1, with the show becoming exclusive to the service later this year, the company said Tuesday. Spotify also gains exclusive rights to videos that Rogan films while taping his podcast.Signing Rogan is a coup for Spotify, which has invested hundreds of millions of dollars in original podcasts over the past few years. A former standup comedian and host of the TV show “Fear Factor,” Rogan has built one of the most loyal followings in all of podcasting over the past decade. His show routinely ranks at or near the top of the charts on Apple Inc., the world’s top podcast supplier.The value of the deal depends on how successful the show is on Spotify, and its impact on the company’s broader podcasting business, a person familiar with the matter said. Rogan stands to make anywhere from tens of millions to more than $100 million, according to the person, who asked not to be identified because the terms aren’t public.Shares of Spotify soared as high as $179.69 in New York on the news. The company has sold investors on the idea that podcasts will benefit its business in much the way original TV series have helped Netflix Inc., providing programs that differentiate Spotify from competitors and are financially more lucrative.The agreement was reminiscent of Sirius Satellite Radio stealing Howard Stern from terrestrial radio in 2004. That deal, too, sent Sirius’s shares soaring.Politicians, celebrities and business leaders all appear on Rogan’s sometimes-controversial podcast, eager to win favor with his listeners. Bernie Sanders stopped by the show as part of his presidential campaign, while Tesla Chief Executive Officer Elon Musk has appeared a of couple times. Spotify isn’t buying Rogan’s company, as it did with Bill Simmons’s The Ringer or Gimlet Media. Instead, it has licensed the rights to his show for an undisclosed sum.Rogan is taking a risk. There’s a chance he will lose the majority of his audience, since Apple accounts for more than 60% of listeners for most podcasts.But Spotify is hoping many of those listeners defect, and can help Rogan expand his audience overseas as well. The company has the most popular podcasting app in many international markets and has established itself as the clear No. 2 in the U.S.PMM, the company that sells ads on Rogan’s podcast, will work with Spotify under the new arrangement. Spotify customers won’t need to pay for a subscription to hear the show. Its podcasts are part of its free service and supported by ads.“It will be the exact same show,” Rogan said in a video. “I’m not going to be an employee of Spotify. We’re going to be working with the same crew, doing the same show. The only difference will be it will now be available on the largest audio platform in the world.”(Updates with value of deal in fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Verizon's (VZ) 4G LTE network powers SiriusXM with 360L's streaming content by delivering in-vehicle access to SiriusXM's content in Audi models.
In a release issued under the same headline earlier today by Verizon Communications (NYSE, Nasdaq: VZ) please note that in the first paragraph of the release, the number of 2021 model year Audi vehicles should be 10 and not 11, as was inadvertently stated by the newswire. Verizon and SiriusXM are teaming up to deliver SiriusXM with 360L – SiriusXM’s newest and most advanced audio entertainment platform – to 10 2021 model year Audi vehicles in the U.S. SiriusXM with 360L combines satellite and streaming content delivery into a single, cohesive in-vehicle entertainment experience.
Verizon and SiriusXM are teaming up to deliver SiriusXM with 360L – SiriusXM’s newest and most advanced audio entertainment platform – to 11 2021 model year Audi vehicles in the U.S. SiriusXM with 360L combines satellite and streaming content delivery into a single, cohesive in-vehicle entertainment experience. SiriusXM with 360L upgrades the way subscribers interact with the service by providing more choice in entertainment.
Shares of SiriusXM (NASDAQ: SIRI) jumped 19.6% in April, according to data from S&P Global Market Intelligence. For context, SiriusXM shares had tanked in March from $6.34 per share to $4.81 per share, a 24.1% decline, due to concerns about how the business would fare in the new environment. Heading into April, investors had been concerned about SiriusXM's ability to retain and grow subscribers in the current environment.
Sirius XM's (SIRI) first-quarter 2020 results benefit from growth in business post the Pandora acquisition, subscriber base expansion and higher ARPU.
Today, Jim Meyer, our Chief Executive Officer, will be joined by David Frear, our Senior Executive Vice President and Chief Financial Officer. Scott Greenstein, our President and Chief Content Officer will be available, as well as Jennifer Witz, our President of Sales, Marketing and Operations.
Sirius XM (SIRI) delivered earnings and revenue surprises of 40.00% and 2.63%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
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With its new $75 million investment from Sirius XM, SoundCloud says it's focused on being more of a "social music experience" than competing directly with the likes of Apple Music.