Summary of Sirius XM Holdings, Inc. Conference Call Company Overview - **Company**: Sirius XM Holdings, Inc. (NASDAQ: SIRI) - **Event**: J.P. Morgan Technology, Media & Communications Conference - **Date**: May 25, 2021 - **CEO**: Jennifer Witz Key Points Subscriber Base and Churn - Record low churn rates indicate high loyalty and satisfaction among self-pay subscribers [2][3] - Significant increase in listening outside of vehicles, with a notable rise in trial starts [2][3] - Listening and trial metrics are at approximately 90% of pre-COVID levels [3] Auto Sales and Inventory - April saw a strong seasonally adjusted annual rate (SAR) of 18.5 million, the highest in 16 years [4][6] - OEMs are facing inventory challenges, impacting sales, but there is optimism for recovery in the second half of the year [4][7] - Third-party estimates suggest SAR may decline to the high 15 million range due to inventory issues [7] Advertising Revenue - Strong advertising performance with a 24% growth in Q1, driven by both on-platform and off-platform monetization [29] - Pandora's revenue per thousand impressions (RPM) rose 27% to $86, with off-platform revenue growing 48% [29] New Offerings and Content Strategy - Introduction of new high-end offerings and family plans to capture diverse consumer needs [15][16] - Testing of an ad-supported tier for SiriusXM, targeting non-subscribers and former subscribers [18] - Continued focus on enhancing content offerings, including partnerships with notable artists and brands [16][45] Podcasting and Digital Audio - SiriusXM aims to capitalize on the growing podcast advertising market, with expectations of double-digit revenue growth [42] - The company has made strategic acquisitions in the podcasting space, including Stitcher and Simplecast [37][42] Market Position and Competition - SiriusXM is positioned as a leader in digital audio advertising in North America, with a large addressable audience of 150 million listeners [31] - The company is adapting to competition from streaming services and in-car connectivity solutions like Android Auto and Apple CarPlay [26][27] Financial Outlook and Capital Allocation - The company remains a strong generator of free cash flow, with a history of returning excess capital to shareholders through buybacks and dividends [53][55] - Future capital allocation will focus on organic growth and selective acquisitions, supported by Liberty's ownership [54][55] Challenges and Risks - Potential risks include the impact of supply chain issues on vehicle production and subscriber growth, as well as competition in the podcasting and digital audio space [9][47] - The company is committed to maintaining a disciplined approach to content investments to protect gross margins [48] Additional Insights - Engagement outside of vehicles has increased, particularly among younger subscribers, which is expected to enhance retention [20][21] - The company is leveraging data to improve personalized marketing and enhance user experience across platforms [24][23] This summary encapsulates the key insights and strategic directions discussed during the conference call, highlighting Sirius XM's current performance, market challenges, and future opportunities.

Sirius XM Holdings, Inc. (NASDAQ:SIRI) Q1 2021 Earnings Conference Call April 28, 2021 8:00 AM ET Company Participants Hooper Stevens - VP, IR & Finance Jennifer Witz - CEO Sean Sullivan - EVP & CFO Scott Greenstein - President & Chief Content Officer Conference Call Participants James Ratcliffe - Evercore ISI Sebastiano Petti - JPMorgan Chase & Co. Matthew Harrigan - The Benchmark Company David Joyce - Barclays Bank Robert Routh - FBN Securities James Goss - Barrington Research Associates Operator Good mor ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2021 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM __________ TO ________ COMMISSION FILE NUMBER 001-34295 SIRIUS XM HOLDINGS INC. (Exact name of registrant as specified in its charter) Delaware 38-3916511 (State or other ...

Summary of Sirius XM Holdings Inc. Conference Call Company Overview - **Company**: Sirius XM Holdings Inc. (NASDAQ: SIRI) - **Industry**: Audio Entertainment and Digital Audio Advertising - **Date of Conference Call**: March 1, 2021 - **Participants**: Jennifer Witz (CEO), Ben Swinburne (Morgan Stanley Analyst) Key Points Strategic Priorities - Sirius XM holds the largest paid subscriber base in audio in the U.S. with over 40 million subscribers, reaching over 150 million listeners across platforms like Sirius XM and Pandora [3][4] - Focus on creating exceptional audio experiences and expanding engagement beyond traditional platforms, including original podcasts [3][4] Market Position and Growth - The company is a leader in digital audio advertising in North America, leveraging its strong sales force and ad tech [4] - Emphasis on increasing digital-only subscribers and enhancing customer experience in vehicles through initiatives like 360L [4][10] Podcasting Strategy - Sirius XM's podcasting strategy targets three groups: listeners, content creators, and advertisers [12] - The company has made acquisitions to enhance its podcast portfolio, including Stitcher and Simplecast, to provide comprehensive solutions for content creators [12][16] - Podcasting is seen as a growth driver, with a focus on increasing engagement and monetization opportunities [18][47] Financial Performance - In Q4 2020, Sirius XM reported over $8 billion in revenue, up slightly year-over-year, with a 17% increase in advertising revenue [21] - EBITDA increased by 6% due to strong revenue and effective cost management [21] - The company experienced a self-pay net add of 909,000 subscribers, exceeding original guidance [22] Impact of COVID-19 - The pandemic initially depressed auto sales and advertising revenue, but both began to recover in Q3 2020 [20][21] - The company adapted to remote operations, maintaining content production and customer service [22] 2021 Outlook - Cautious optimism for 2021, with expectations of recovery in auto sales and advertising revenue as the pandemic situation improves [24][25] - Anticipated auto sales of 16.6 million on an annualized basis in January 2021, with a focus on promoting out-of-car streaming services [24][26] Subscriber Growth and Churn - The company expects robust auto sales and increased penetration rates, with a focus on managing churn as auto sales rebound [29][30] - Digital subscriptions are a growing area of focus, with potential for significant net adds [30] Content Investment and Competitive Landscape - Sirius XM aims to maintain a disciplined approach to content investment, focusing on exclusive and non-exclusive offerings [35][39] - The company does not foresee a competitive war over content but recognizes the importance of live programming and exclusive content [35][37] Capital Allocation - The company plans to maintain a similar level of capital returns in 2021, including a 10% increase in dividends and continued share repurchases [49] Pandora's Performance - The pandemic negatively impacted Pandora's advertising revenue, but recovery was noted in Q4 2020 [46] - The competitive landscape for music streaming remains challenging, but Pandora's monetization strategies are seen as a bright spot [47] Additional Insights - The company is focused on enhancing the user experience through personalized content and leveraging data from connected cars [8][10] - There is an ongoing effort to improve conversion rates for used car subscribers, with initiatives to capture more trial opportunities [42][44]

Sirius XM Holdings Inc. (NASDAQ:SIRI) Q4 2020 Earnings Conference Call February 2, 2021 8:00 AM ET Company Participants Hooper Stevens - Senior Vice President, Investor Relations and Finance Jennifer Witz - Chief Executive Officer Sean Sullivan - Chief Financial Officer Scott Greenstein - President and Chief Content Officer Conference Call Participants Kutgun Maral - RBC Capital Markets Vijay Jayant - Evercore ISI Jessica Reif Ehrlich - Bank of America Securities David Joyce - Barclays Ben Swinburne - Morga ...

Sirius XM Holdings Inc. (NASDAQ:SIRI) Q3 2020 Results Conference Call October 22, 2020 8:00 AM ET Company Participants Hooper Stevens - SVP, IR and Finance Jim Meyer - CEO Jennifer Witz - President, Sales, Marketing and Operations Scott Greenstein - President and Chief Content Officer Conference Call Participants Sebastiano Petti - JP Morgan Jessica Reif Ehrlich - Bank of America Securities Ben Swinburne - Morgan Stanley Steve Cahall - Wells Fargo Operator Good morning and welcome to the SiriusXM’s Third Qu ...

Sirius XM Holdings Inc. (NASDAQ:SIRI) Q2 2020 Results Earnings Conference Call July 30, 2020 8:00 AM ET Company Participants Hooper Stevens - Senior Vice President, Investor Relations & Finance James Meyer - Chief Executive Officer David Frear - Senior Executive Vice President & Chief Financial Officer Scott Greenstein - President & Chief Content Officer Jennifer Witz - President, Sales, Marketing & Operations Conference Call Participants Steven Cahall - Wells Fargo Ben Swinburne - Morgan Stanley Jason Bazi ...