Business to business expansion
Over the past five years, Sirius XM has had consistent and strong revenue growth, largely on the strength of its merger with Internet Radio Broadcasting industry leader Pandora in 2019, which rapidly expanded their consumer listener base. However, the company also has a commercial music portfolio including Sirius XM Music for Business and Pandora for Business. Recently, in 2022, Sirius strengthened its foothold in this market by acquiring Cloud Cover Music, which is a music-for-business service for companies of any size, providing ad-free music and a streamlined platform, with clients including McDonald’s, Burger King and Verizon.
Product Innovation|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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