SiriusXM hinted at new car features coming to its platform in the car and its app later this year.
CEO Jennifer Witz said Tuesday that SiriusXM will hold a press event in New York this fall to reveal the new platform.
Witz told analysts on a call Tuesday that she expects the new platform will help add subscribers who listen both in and outside of the car.
“We’re excited about the upcoming platform launch and look forward to sharing more details, including a preview of the new app and a glimpse into the cutting edge features to come in-car at a press event we are planning to host in New York this fall. Stay tuned for more details to follow,” she said.
The new features would go beyond the current offerings on SiriusXM 360L, the company’s newest platform that is rolling out through the aftermarket and in new cars. Witz said SiriusXM is able to use data from 360L to improve personalized marketing to current and potential subscribers to improve listening rates.
SiriusXM said it is seeing a strong uptick in usage of its service through CarPlay and Android Auto. Streaming through these platforms is up 30 percent compared to last year.
Overall, SiriusXM reported flat sales but higher income for the second calendar quarter. Total revenue was $2.25 billion and net income climbed to $310 million compared to $292 million a year ago.
SiriusXM includes the Pandora segment plus the SiriusXM segment. The SiriusXM segment reported revenue of $1.7 billion, which was also flat with last year’s quarter. Self pay subscribers decreased by 132,000 and paid promotional subscribers increased by 155,000. Total subscribers were flat at 34 million.
See SiriusXM’s full earnings announcement here.
