SiriusXM (SIRI) Offers Live Coverage of Major League Baseball
SiriusXM SIRI is focused on providing its subscribers with quality content of varied genres. The company’s strong content portfolio is likely to help it expand its user base.
In line with the aim, SiriusXM continues to bolster its content offerings by adding content from all genres, including news, sports, podcasts, music and politics, to its platforms.
SiriusXM recently announced it would air the most comprehensive national audio coverage available for the 2022 Major League Baseball season.
The company is also offering subscribers access to live play-by-play of every regular season and postseason game as well as 24/7 news, talk and analysis on the exclusive MLB Network Radio channel.
Shares of SIRI have increased 7.8% against the Zacks Broadcast Radio and Television industry’s decline of 25.9% and the Consumer Discretionary sector’s fall of 14.9% in the year-to-date period.
Focused Sports and Comedy Content to Aid User Growth
SiriusXM is concentrating on creating unique audio packages to boost user engagement levels. It is looking to bank on its strength from in-vehicle services and Pandora’s out-of-the-vehicle market to boost subscriber growth.
Mainly comedy and sports content has provided SiriusXM with a larger audience. In the last reported quarter, management stated that they might have to go back and forth between content, marketing and ad sales as well as comedy and sports.
By the end of the last month, SiriusXM announced expanded live broadcasting plans for Masters Tournament through Apr 2-10.
In March, SiriusXM offered listeners nationwide extensive coverage of the entire 2022 NCAA Division I Men's Basketball Championship as well as expanded play-by-play coverage of this year's NCAA Division I Women's Basketball Championship.
Earlier this year, SiriusXM launched premiered a new channel, It's Showtime at the Apollo!. The new channel features the best stand-up comedy from the iconic variety show's decades-spanning run.
SiriusXM partnered with Hope Solo, the World Cup champion and the Olympic gold medalist goalkeeper, to launch an original SiriusXM podcast, Hope Solo Speaks, that debuted across all podcast platforms on Mar 2.
SIRI also announced its extensive programming plans for the week of Super Bowl LVI. SiriusXM listeners will get multiple broadcasts of the game, a dedicated Super Bowl LVI pop up channel, plus a mix of sports and entertainment programming.
Sirius XM Holdings Inc. Price and Consensus
Sirius XM Holdings Inc. price-consensus-chart | Sirius XM Holdings Inc. Quote
In the last reported quarter, SiriusXM’s subscriber revenues, which comprised 74.3% of total revenues, rose 5% from the year-ago quarter’s levels to $1.70 billion.
In spite of building its content portfolio, the company has been witnessing a declining user base. In the last reported quarter, SiriusXM segment subscriber base declined 2%, the company witnessed growth of 7% in ARPU, which amounted to $15.34.
Self-pay subscribers increased 3.7% year over year to 32.04 million. Net self-pay subscribers declined 231K in the reported quarter.
Total subscribers were 34.03 million at the end of fourth-quarter 2021, less than 34.65 million at the end of fourth-quarter 2020.
Monthly active users were 52.28 million at the end of the reported quarter, down from 58.88 million in the year-ago quarter. Ad-supported listener hours declined 6.4% year over year to 2.77 billion.
Zacks Rank and Stocks to Consider
Currently, SiriusXM has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Zacks Consumer Discretionary sector are Funko FNKO, sporting a Zacks Rank #1 (Strong Buy) at present, while Toro TTC and Target Hospitality TH, both currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Funko’s shares have declined 5.4% compared with the Zacks Consumer Products - Discretionary industry’s fall of 26.2% and the Consumer Discretionary sector’s drop of 15% in the year-to-date period.
The Target Hospitality stock has surged 56.2% against the Zacks Leisure and Recreation Services industry’s decline of 9.9% and the Consumer Discretionary sector’s fall of 14.9% in the year-to-date period.
Shares of Toro have declined 14.7% compared with the Zacks Tools - Handheld industry’s decrease of 9.3% and the Consumer Discretionary sector’s fall of 15% in the year-to-date period.
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