Youll be missed. This gives us a general idea of the trajectory and the scope of spending. Stream Newsmax | Free Internet Radio | TuneIn And once again, we saw the seasonally higher churn we tend to see in Q1. WebYou can stream NewsmaxTV with a live TV streaming service.No cable or satellite subscription needed. This contributed to the expected negative subscriber growth in the quarter. 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. And in March, we started to see that tail off a little bit. First, Sean, good luck. No reason to subscribe to a different streaming service just to get access to Newsmax TV. SIRI earnings call for the period ending March 31, 2023. The investments we are making now will support our remaining valuable low band customers for several years to come, but well eventually provide new revenue opportunities. Supporting this, first quarter vehicle trial starts were up 7% overall compared to the fourth quarter, including a 3% rebound in new vehicle trials and an 11% rebound in used vehicle trials. There are things worse than single-digit revenue growth. WebNewsmax isn't a paid service (for the listener) and depend on ad revenue. So what's key is the rollout, and this has been a long time coming, and the promise of 360L is now delivering. So we look at this probably more often than not, but we spend a lot of time looking at this. Could you give us a little bit of color on sort of the puts and takes there? Im confident that Toms perspective, diligence, financial expertise, and history with Sirius XM will serve him well as he steps into the CFO role. This past quarter, we combined Sirius XMs podcast group and comedy and entertainment group into one unit. Sling is available starting at $40 per month for 30 channels, including Bloomberg, BBC America, and Cheddar Business. At this time, Ill turn the conference over to Hooper Stevens, Senior Vice President of Investor Relations and Finance. 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? I will start on advertising and hand it over to Scott on your second question. SIRI earnings call for the period ending March 31, 2023. So that pressure will abate to some extent. We are very encouraged by the conversion lift we see in vehicles with 360L today. The beat remains the same, even if this isn't likely to be a beat on Thursday. Newsmax | iHeart But is that just too fringe for you? 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. What channel is NewsMax on Sirius XM And as we noted, our Q1 was at 3.4 times, and we returned $161 million to shareholders in the first quarter, and we'll continue to be opportunistic for the remainder of the year. And to Tom, congratulations. Here you've come in and you've updated financial guidance. Advertising revenue of $334 million decreased slightly by 1% in the first quarter. We'll continue our current process of being cautious and disciplined. And, Sean, best of luck in your new opportunity. SiriusXM Or is there anything different that you can talk to at this point? So its like anything else. Looking at the capital allocation for first quarter of 2023, we return to $160 million to the shareholders comprised of 94 million of dividends and 67 million of stock repurchases, as we reentered the market following our fourth quarter results. SEE INFOTAINMENT DETAILS SIRIUSXM TRAVEL LINK Maybe for Jennifer on distribution, you called out the partnership with Walmart+ announcing the quarter. Some sports might be live on Fubo TV right now. Thank you, and good morning, everyone. And I guess what I wanted to ask about is just a follow-up on the subscriber progression here. Investors already saw that happen with the Pandora streaming service in 2022. Analysts see flat results, in line with Sirius XM's uninspiring full-year guidance. Please proceed with your questions. Newsmax's Steve Malzberg Show To Air On SiriusXM NEWSMAX's new syndicated and online STEVE MALZBERG SHOW will air on SIRIUSXM RADIO's AMERICA'S Thanks, everybody, for participating today. Satellite Radio So your commentary on the intent to buy and the improving funnel sounds constructive. Hi. Kelly's new hit, Let's Talk Off Camera, is first released widely as a podcast but also airs on Radio Andy. What are you guys seeing among OEMs in terms of their positioning around third-party interfaces on the dash versus their own, and how does that affect the placement and role of the Sirius XM product? Clearly, with negative 347 this quarter, we are expecting, as we said, improvements quarter-over-quarter. The Sirius XM segment delivered $1.7 billion in revenue, which was down 2% principally due to lower OEM paid promotional trial revenue reflected in ARPU of $15.29 and decline subscriber revenue connected vehicle, partially offset by a weighted average subscriber base that was up 1% year-over-year. 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. Sirius XM Stock Has a Lot to Prove This Week | The Motley Fool Mr. Stevens, you may now begin. Listen to music, live sports radio, the best talk and entertainment radio. We announced this morning that Mercedes has a plan to roll out, and we are very eager to see it continue to move through our OEM partners. For example, we introduced a new in-app onboarding experience for users to select genres allowing faster, more efficient access to the most relevant content. First of all, Sean, thanks very much. 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. Our total new and used car penetration rate was 80% and 55% respectively, and our enabled fleet stands at about 154 million vehicles. Get your subscription for $40 per month and get access to Newsmax TV and others, like Bloomberg, BBC America, and Cheddar Business. The difference is whether or not you listen to satellite radio in your car. So one of the things were most proud of is what you alluded to the true diversity of voices we have on the platform and basically letting our subscribers and listeners and trialers decide what they want to listen to at any given moment. I was just wondering if you could give us an update on that subscriber kind of loose commentary. Sirius XM has fallen short of Wall Street's profit targets in two of the past three quarters, and Thursday's financial update might not provide any relief. In closing, I would also like to thank Sean for making this transition as seamless as possible. Sirius XM (SIRI) Q4 2022 Earnings Call Transcript, U.S. Money Supply Is Doing Something It Hasn't Done in 90 Years, and It May Signal a Big Move for Stocks, Why I Refuse to Chase the Maximum Social Security Benefit, A Bull Market Is Coming: 3 Stocks to Buy Without Hesitation, 1 Trillion-Dollar Growth Stock Down 28% You'll Regret Not Buying on the Dip, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Motley Fool Issues Rare All In Buy Alert, Copyright, Trademark and Patent Information. February 16, 2022. Welcome to Sirius XMs First Quarter 2023 Operating and Financial Results Conference Call. Look forward to working with you. Not every app is available on Apple's App Store, but depending on the streaming service you. We do expect to see future quarter-over-quarter progress in self-pay net adds, but we still anticipate being modestly negative for the full year in aggregate. Well share progress on future quarterly calls, but the first months of 2023 have already brought several exciting product iterations and consumer offers providing valuable insights for the full platform re-launch later this year. And likewise, for XM radio, only XM packages can be activated. With that, Ill turn it over to the operator for Q&A. And I think we're very well-positioned to deliver our service through AAOS. Pleasure working with you and good luck on the next gig, keep them in the fairway. And then relatedly, I was just wondering if you could speak to whats going on in the used car market? Pandora was supposed to be a catalyst for growth, a digital escape hatch the moment that satellite radio would prove transitory and eventually obsolete. SiriusXM-owned Pandora continues to see its reach shrink, however. The Motley Fool has a disclosure policy. And were working closely with the OEMs and with Google as that rules out. Today, we'll have prepared remarks from Jennifer Witz, our chief executive officer; Sean Sullivan, our chief financial officer; and Tom Barry, who will assume the position of CFO tomorrow. We help resolve pain points facing marketers by using greater automation and making buying more efficient. Jennifer, maybe just a follow-up on that line of discussion. We increased the number of women's games we deliver to our subscribers to almost 800 broadcasts, doubling from the previous season. We may receive an affiliate commission from product sales generated through these affiliate links. SiriusXM Player: Online Radio, Music, Sports, News, Podcasts & Talk You may disconnect your lines at this time. I just saw a stat the other day that we watch quite frequently about intent to buy and its at one of the highest levels weve seen over the last couple of years. With that, Ill hand the call over to Jennifer. The Favorites area will appear; click on it, and the web will show all of your presets. Howard Stern Nears Deal With Sirius XM for Around $120 And then maybe just one for Tom. US satellite radio firm SiriusXM has published its financial results for the first quarter of 2023. I just don't want to focus on ARPU solely because I do think there's demand at lower price points, and we are looking at more flexible pricing structures that we will likely implement when we launch the new platform.
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