Boston, MA 04/21/2014 (wallstreetpr) – For Sirius XM Holdings Inc. (NASDAQ:SIRI), the options are increasing all the time.
From exclusive coverage of the U.S. PGA Tour and the 2014 MLB season, to bringing Today to its listeners, Sirius is making sure that its paying customers have a great choice of channels.
The latest announcement to bring Today to Sirius is a win-win for both the satellite radio service as well as for NBC. Sirius XM Holdings Inc. (NASDAQ:SIRI) already simulcasts cable channels like CNN, Fox News, CNBC, and MSNBC and Today will only be an additional option for the listeners. NBC will love the fact that it gets one more way to spread the footprint of its morning show.
Today will be available on Channel 108 on SiriuxXM and will run for four hours with a replay later in the day.
This announcement comes on the heels of other new initiatives including a deal with Avis Budget Group Inc. (NASDAQ:CAR) which will make Sirius available to Avis’ rental customers as a paid service that will cost $6.99 on the first day and $3.99 for each subsequent day.
Sirius XM Holdings Inc. (NASDAQ:SIRI) is trying to make sure that it will continue to thrive in the face of some strong existing and likely new additional competition. Existing competition includes the likes of Pandora Media Inc (NYSE:P) and Spotify while new competitors include Apple Inc. (NASDAQ:AAPL).
With Apple’s previous track record of having disrupted different businesses including the music distribution business with its iTunes service, Sirius cannot ignore Apple’s moves to widen the diversify the content offerings on its iTunes Radio. Apple’s CarPlay has been launched with global luxury automobile manufacturers like Mercedez-Benz and Ferrari. Other manufacturers will soon follow.
With the massive scale of Apple, a small company like Sirius that had 4Q2013 revenues of $1.0 billion has reasons to worry. Indeed, it might even make sense for Sirius and Pandora to become one company.
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