1052 ET - SiriusXM is betting that it can convert a pool of would-be subscribers into paying customers who will listen to ads in exchange for a cheaper subscription. On an earnings call, Chief Executive Jennifer Witz says the company is preparing to offer a lower-priced sign-up option to support the company's growth goals. The satellite radio and audio-streaming company ended 2024 with fewer year-over-year self-pay subscribers who are responsible for paying their recurring fee for the service, and a lower-priced option could help the company reach a broader base. The company's profit rose in 4Q, but sales dropped, with subscriber revenue down 5%. Citi analyst Jason Bazinet notes that subscription growth still exceeded Wall Street's expectations, and shares are up 3.5%. (owen.tucker-smith@wsj.com)
(END) Dow Jones Newswires
January 30, 2025 10:52 ET (15:52 GMT)
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