SiriusXM Continues Hints at SXM 17

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SiriusXM says it is expanding user trials of a new platform code named SXM 17 that combines both LTE Internet and satellite radio to offer consumers more choice in programming.

Users will get on-demand programming and a better, interactive program guide.

SiriusXM CEO Jim Meyer said of SXM 17 today “We are doing extensive user testing. The size of our focus groups has expanded…We’re not ready yet to give you rollouts with OEMs yet…we’ll have more to say on that later this year.”

Meyer told analysts on a conference call today that SXM 17 can provide more interactive music on demand, more customizing and it will be very simple to use. “The team is all excited about what we can do with the cool new technology,” he said.   The company is also working towards simple subscription renewal at the press of a button under the new platform.

SXM 17 will also provide more “personal recommendations” in programming, said Meyer.

Again, more details on SXM 17 are expected later this year.

In the meantime, SiriusXM said its current radio technology is now in 75 percent of new cars.

And it said its “aftermarket business is still pretty healthy.”

Both revenues and net income surged in the first quarter of 2016 as the satellite radio company passed the 30 million subscriber mark.  As a result SiriusXM upped its guidance for the year.

It now expects to add 1.6 million net new subscribers for this year, up from a previous forecast of 1.4 million.

For more financial information see: http://investor.siriusxm.com/investor-overview/press-releases/press-release-details/2016/SiriusXM-Reports-First-Quarter-2016-Results/default.aspx

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