Sirius XM Makes Ford Announcement

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SiriusXM Ford Announcement

Along with the F150 Lightning, SiriusXM will be a standard feature in traditional Ford F150s, beginning with the 2024 model year, announced the satellite radio service Tuesday.

SiriusXM will also announce a new streaming app on November 8.  The app is expected to help attract younger listeners, and it is expected to be followed by a new platform for the car.

SiriusXM CEO Jennifer Witz told analysts that the new platform begins with “streaming first, and then we’ll move through our in-car platform next year…”

The company will also debut its 360L platform on the Android Automotive operating system later this year. 360L merges SiriusXM with Pandora streaming and provides extra streaming channels.

SiriusXM also reported its third quarter earnings with flat sales and a 47 percent spike in profits.  Paid satellite radio subscribers decreased by 96,000 during the quarter.  This is a narrower loss compared to a 132,000 drop in subscribers in the second quarter and 347,000 in the first quarter. Total subscribers remains even with the same quarter last year at 34 million.

Sales for the third quarter totaled $2.27 billion and net income was $363 million, up from $247 million a year ago.

SiriusXM’s financial report can be seen here.

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