0952 ET - SiriusXM is shifting its strategy to focus resources on increasing retention among subscribers with services embedded in their vehicles, which make up about 90% of its total subscriber base. The satellite radio and audio-streaming company says in a corporate update that it will also focus on capturing additional growth opportunities within this core automotive subscriber segment. SiriusXM plans to shift marketing and other resources away from the high-cost and high-churn audiences for its streaming services, which will start to be used as more of a companion to the company's automotive offering. SiriusXM slides 9% after revealing that it expects to bring in less revenue next year than in 2024. (dean.seal@wsj.com)
(END) Dow Jones Newswires
December 10, 2024 09:52 ET (14:52 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.