Audio firm SiriusXM has appointed Suzi Watford as the corporate’s first chief progress officer. Watford will lead SiriusXM’s progress technique in subscription, advertising and marketing and analytics throughout its subsidiaries, together with Pandora.
At Dow Jones, Watford served as the corporate’s chief advertising and marketing and membership officer, overseeing advertising and marketing and subscription acquisition for The Wall Street Journal, Barron’s and MarketWatch.
“SiriusXM’s mixture of world-class programming and expertise with a passionate subscriber base is unmatched within the market, and provides an unbelievable basis for future progress,” Watford mentioned in an announcement. “I’m trying ahead to becoming a member of the gifted workforce at SiriusXM at this stage within the firm’s journey and enjoying a job as we glance to draw and retain new progress audiences.”
Within the third quarter of final 12 months, the audio large elevated complete income by 4% in comparison with the identical interval the 12 months prior, reaching $2.28 billion. Advert income grew to $457 million in Q3 2022, a $6 million enhance in comparison with Q3 2021. Subscriptions make up the majority of its revenues. Within the third quarter of 2022, SiriusXM had roughly 34.2 million paid subscribers, down 34.3 million from Q3 2021, per its earnings report. The corporate’s highest subscription tier, SiriusXM Platinum provides subscribers entry to podcasts and ad-free music for $22.99 a month. The corporate’s subscriptions peaked in This autumn 2019 when it hit 34.91 million, in accordance with Statista.
Paid promotional subscribers, shoppers who obtain restricted satellite tv for pc radio subscriptions through auto corporations who pay to SiriusXM like Ford and Chrysler, additionally decreased by 49,000 finish of Q3 2022 however self-pay subscribers or particular person prospects elevated by 187,000, ending the quarter with 32.2 million self-pay subscribers.
The corporate has been strengthening its subscription enterprise within the final 12 months. In August 2022, the corporate bundled Stitcher Premium with its SiriusXM Platinum Plan for listeners to have entry to bonus content material. SiriusXM Platinum month-to-month subscribers have entry to exhibits like Conan O’Brien Needs a Friend, Freakonomics Radio and LeVar Burton Reads, TechCrunch reported. Conan O’Brien Wants a Pal reached No. 4 in comedy podcasts within the U.S., per Chartable.
SiriusXM is because of report its fourth quarter 2022 earnings on Feb. 2 at 8 a.m. ET.
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