5.99 +0.01 (0.17%)
After hours: 7:55PM EST
|Bid||5.97 x 2900|
|Ask||5.99 x 900|
|Day's Range||5.91 - 6.00|
|52 Week Range||5.37 - 7.70|
|Beta (3Y Monthly)||1.17|
|PE Ratio (TTM)||30.36|
|Earnings Date||Jan 30, 2019|
|Forward Dividend & Yield||0.05 (0.80%)|
|1y Target Est||6.93|
The Latest from Media Disruptors: SPOT, NFLX, TME, and AAPL ## Spotify bringing sponsored ads to Discover Weekly playlist Spotify (SPOT) has begun testing a new type of ad format that allows brands to sponsor its Discover Weekly playlist, according to Rolling Stone. The Discover Weekly sponsorship program will allow brands to insert audio or video ads between songs on Spotify’s free service. This move shows that Spotify is stepping up efforts to monetize its free listeners. Microsoft (MSFT) kicked off the Discover Weekly sponsorship with ads promoting its artificial intelligence technology. Spotify’s Discover Weekly delivers a personalized playlist of songs, and it updates every Monday. ## Majority of Spotify customers are free listeners Spotify exited the third quarter of 2018 with 109 million free listeners and 87 million paying subscribers. Pandora (P) and Apple have 6.8 million and 40 million paying listeners, respectively, according to their latest updates. Pandora is in the process of merging with Sirius XM (SIRI) in what could result in stronger competition for Spotify in the music market. ## Only 10% of revenue came from ad sales Spotify monetizes its free listeners by getting them to view or listen to ads. Although the vast majority of Spotify’s listeners are on the ad-supported service, advertising sales accounted for just 10% of the company’s total revenue in the third quarter. Bringing sponsored ads to Discover Weekly’s personalized playlist could help Spotify capture more advertising dollars and diversify its revenue sources. In an effort to reach more listeners, Spotify last year secured a deal that makes it the preferred music app on Samsung (SSNLF) devices. It is also one of the default music apps on Facebook’s (FB) Portal device. Spotify generated $1.6 billion in revenue in the third quarter. Continue to Next Part Browse this series on Market Realist: * Part 2 - Why Netflix Hired Expensive CFO * Part 3 - Does Tencent Music Entertainment Have Bright Future? * Part 4 - What’s Apple Plotting in Media Space?
The Zacks Analyst Blog Highlights: Berkshire Hathaway, Teva Pharmaceutical Industries, Visa, American Express, Liberty Latin America and Sirius XM
Sirius XM closed down Wednesday 4.57% at $6.06, dropping after announcing year-end subscriber numbers and updating 2019 guidance. The results were strong overall, with Sirius XM hitting 34 million subscribers and topping its own self-pay subscriber expectations by approximately 40%. Longer term, though, Sirius looks like it's carving out a bottom this January.
Jon Fortt sits down with Pandora Co-Founder and Former CEO Tim Westergren on the sale of his creation to SiriusXM Satellite Radio for $3.5 billion. Plus -- the new "big cloud" mafia on their new alliance.
We have selected five of Oracle of Omaha's favored companies that are likely to make the most of this year. Most of these companies belong to sectors such as health care, financials and communication services.
Sirius XM Holdings Inc. ticked lower in the extended session Tuesday after the satellite radio company issued forecasts for this year and the next. Sirius shares declined 0.9% after hours, following a 2.1% gain to close at $6.35 a share Tuesday. The company said it "expects to meet or exceed its 2018 guidance" for revenue, free cash flow, and adjusted earnings before interest, tax, depreciation and amortization. In late October, Sirius forecast self-pay net subscriber additions of about 1.28 million for the year, revenue of about $5.73 billion, adjusted EBITDA of about $2.2 billion, and free cash flow of about $1.5 billion. Analysts surveyed by FactSet estimate self-pay net subscriber additions of 1.32 million, revenue of $5.75 billion, adjusted EBITDA of $2.17 billion, and free cash flow of $1.53 billion. For 2019, Sirius XM said it expects self-pay net additions "approaching 1 million," revenue of about $6.1 billion, adjusted EBITDA of about $2.3 billion, and free cash flow of about $1.6 billion. Analysts expect self-pay net additions of 1.1 million, revenue of $6.07 billion, adjusted EBITDA of $2.35 billion, and free cash flow of $1.69 billion. The company said its guidance does not include the effect of its expected acquisition of Pandora Media Inc. in the first quarter. Sirius is scheduled to report fourth-quarter results on Jan. 30.
NEW YORK, Jan. 8, 2019 /PRNewswire/ -- SiriusXM today announced it added 1.4 million self-pay subscribers to finish 2018 with approximately 28.9 million self-pay subscribers, exceeding the company's initial 2018 guidance by approximately 40%. During the fourth quarter, SiriusXM repurchased approximately $646 million of its common stock, the largest amount of capital allocated to open market repurchases in a single quarter since the program commenced in early 2013. Including dividends, SiriusXM returned approximately $1.5 billion of capital to its stockholders during 2018.
The two audio entertainment giants may be coming together in 2019, but this doesn't mean that buying one stock is the same as buying the other.
In a release, the companies said they are working to offer the SiriusXM e-wallet to manufacturers who deploy SiriusXM’s connected vehicle services, a connected vehicle platform in North America serving multiple major automotive brands. The companies said the SiriusXM e-wallet is being designed to integrate into the dashboard and will allow drivers and their passengers to complete and make purchases such as shopping and paying for coffee, finding and pre-paying for gas, locating and paying for parking, purchasing movie tickets, and paying tolls. Users will activate and authenticate payment with their Visa account using biometric authentication, like voice and touchscreen commands, to eliminate driver distractions during the transaction.
NEW YORK, Jan. 7, 2019 /PRNewswire/ -- Visa and SiriusXM Connected Vehicles Services Inc., a subsidiary of Sirius XM Holdings Inc. (SIRI), announced today onstage at the Consumer Telematics Show in Las Vegas their plan to revolutionize the driving experience with a new in-vehicle payment solution. Visa and SiriusXM are working to enhance the way customers spend their time in-vehicle and plan to offer the SiriusXM e-wallet to manufacturers who deploy SiriusXM's connected vehicle services, the broadly adopted connected vehicle platform in North America, serving multiple major automotive brands.
Sirius XM Radio Inc. (NASDAQ: SIRI ) should see stronger growth from its acquisition of Pandora, according to a newly bullish JPMorgan. The Analyst Analyst Sebastiano Petti upgraded Sirius XM from Underweight ...
rose 1.4% to $5.79 on Wednesday after JPMorgan Chase & Co. raised its rating of the satellite radio company to overweight from underweight. JPMorgan also lifted its stock price target to $7. In September, Sirius announced that it had reached a deal to acquire online streaming service Pandora Media Inc.
Shares of Sirius XM Holdings Inc. slipped 0.2% in premarket trade Wednesday, amid a sharp selloff in the broader market, while J.P. Morgan swung to bullish from bearish on the radio services provider, citing a now attractive valuation ahead of the closing of the Pandora Media Inc. acquisition. The rating was raised to overweight, after being at underweight since January 2018. The stock price target was lifted to $7, which is 23% above Monday's closing price of $5.71, from $6. Following the recent stock selloff, J.P. Morgan said it views Siri's valuation as attractive at current earnings multiples, ahead of initial 2019 guidance expected this month and ahead of the Pandora deal close. Since closing at a 12 1/2-year high of $7.64 on June 18, the stock had tumbled 25% through Monday, while the S&P 500 lost 9.6% over the same time. "We look for SIRI's strong results year-to-date to persist in 4Q18 and 2019 and believe the Pandora acquisition can augment growth in new and existing segments," J.P. Morgan analysts wrote in a note to clients.
The video game producer is firing Chief Financial Officer Spencer Neumann for cause "unrelated to the company's financial reporting," according to a Securities and Exchange Commission (SEC) filing. The Wall Street Journal reports that Neumann will be named as the new Netflix NFLX CFO as early as this week, quoting a personal familiar with the matter. Alphabet GOOGL – Alphabet's Google unit has won Federal Communications Commission (FCC) approval for its new radar-based motion sensing device.
Dana Blankenhorn, my InvestorPlace colleague, admitted in October that buying Ford (NYSE:F) a couple of years ago was a mistake, despite the fact it generates guaranteed dividend income of 60 cents a year, which works out to a yield of 7.3% for him and the other owners of Ford stock. As long as Ford doesn’t go out of business, 7.3% beats the 10-year Treasury every day of the week and twice on Sundays. Now, don’t get me wrong, I’ve been a big skeptic of Ford stock.
Internet Sector Updates: SQ, BIDU, and TCEHY(Continued from Prior Part)Futu trading volume soared 15 times in three years Tencent’s (TCEHY) music streaming business, Tencent Music Entertainment (TME), went public in the United States earlier this month.