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SiriusXM (SIRI) Announces Availability of Fish Mapping Service
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SiriusXM (SIRI - Free Report) announced that the SiriusXM Fish Mapping service is now available on Raymarine’s Axiom line of chart plotter displays. Raymarine is a global manufacturer and major supplier of electronic equipment for marine use.
SiriusXM Fish Mapping is SiriusXM’s comprehensive package, mainly designed for helping saltwater anglers locate fish faster and save fuel.
Per the partnership, SiriusXM Fish Mapping will provide updated, science-based data directly to the compatible Axiom displays, using the SR200 SiriusXM Satellite Weather receiver and running Raymarine's new version of the LightHouse 4 operating system.
Using the compatible Axiom display, anglers who already have SiriusXM Weather and a SR200 can easily upgrade to the SiriusXM Fish Mapping service.
The Fish Mapping service can be availed at a subscription fee of $99.99 per month, including SiriusXM Marine’s Weather information.
Expanding Partnerships to Boost Demand for Fish Mapping
Florida is known as the fishing capital of the world. In fiscal 2020, Florida’s saltwater and freshwater recreational fishing industry contributed $13.8 billion to the state’s economy. With the COVID-19 restrictions finally waning off, the industry is likely to revive. The same is expected for saltwater recreational fishing industries off ocean coasts around North America.
For a diversification-driven tech company like SiriusXM, recreational fishing offers a natural business addition to its primary audience.
The company’s business case is based on providing listeners with a selection of music, entertainment and information audio broadcasting channels.
SiriusXM’s North American satellite footprint covers a large area, starting from the Atlantic to Pacific coasts and adjoining waters. This is why SiriusXM has been providing critical weather information for offshore anglers, which is beyond the reach of cell or internet signals for many years.
Initially, SiriusXM’s weather service was voice-only. It was eventually expanded to include weather and ocean data to onboard navigation displays in partnerships with leading marine manufacturers under SiriusXM Marine Weather.
SiriusXM launched its Fish Mapping Service back in 2019. The data for the Fish Mapping service is provided by Maxar Technologies .
The oceanographers at Maxar compile and analyze data available from various sources and transfer it to SiriusXM. The data is incorporated into the satellite feed for the company’s Fish Mapping customers.
At the time of the launch, the comprehensive SiriusXM Marine package was and is still available on Garmin’s (GRMN - Free Report) GXM 54 satellite weather and radio receiver.
The integration of Fish Mapping with Garmin’s multi-function displays provides regular updated scientific information beyond cellular coverage to owners of GXM 54 receivers.
Earlier in 2021, SiriusXM’s Fish Mapping service also became available on Furuno’s NavNet TZtouch3 line of multi-function displays (MFDs).
Later in June 2021, the company partnered with Simrad to announce the availability of SiriusXM’s Fish Mapping on Simrad’s NSSevo3, NSOevo3, NSSevo3S and NSOevo3S line of multi-function displays (MFDs).
In the last reported quarter, SiriusXM’s total revenues rose 4.2% year over year to $2.28 billion.
Subscriber revenues rose 5% from the year-ago quarter’s levels to $1.70 billion. Meanwhile, advertisement revenues increased 4.4% year over year to $495 million.
Equipment revenues declined 11.7% year over year to $53 million. Other revenues segment, which offers ancillary services, such as Backseat TV, data and weather services, declined 5% from the year-ago quarter’s levels to $38 million.
Funko’s shares have declined 4% compared with the Zacks Consumer Products - Discretionary industry’s fall of 24% and the Consumer Discretionary sector’s decline of 11.5% in the year-to-date period.
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SiriusXM (SIRI) Announces Availability of Fish Mapping Service
SiriusXM (SIRI - Free Report) announced that the SiriusXM Fish Mapping service is now available on Raymarine’s Axiom line of chart plotter displays. Raymarine is a global manufacturer and major supplier of electronic equipment for marine use.
SiriusXM Fish Mapping is SiriusXM’s comprehensive package, mainly designed for helping saltwater anglers locate fish faster and save fuel.
Per the partnership, SiriusXM Fish Mapping will provide updated, science-based data directly to the compatible Axiom displays, using the SR200 SiriusXM Satellite Weather receiver and running Raymarine's new version of the LightHouse 4 operating system.
Using the compatible Axiom display, anglers who already have SiriusXM Weather and a SR200 can easily upgrade to the SiriusXM Fish Mapping service.
The Fish Mapping service can be availed at a subscription fee of $99.99 per month, including SiriusXM Marine’s Weather information.
Expanding Partnerships to Boost Demand for Fish Mapping
Florida is known as the fishing capital of the world. In fiscal 2020, Florida’s saltwater and freshwater recreational fishing industry contributed $13.8 billion to the state’s economy. With the COVID-19 restrictions finally waning off, the industry is likely to revive. The same is expected for saltwater recreational fishing industries off ocean coasts around North America.
For a diversification-driven tech company like SiriusXM, recreational fishing offers a natural business addition to its primary audience.
The company’s business case is based on providing listeners with a selection of music, entertainment and information audio broadcasting channels.
SiriusXM’s North American satellite footprint covers a large area, starting from the Atlantic to Pacific coasts and adjoining waters. This is why SiriusXM has been providing critical weather information for offshore anglers, which is beyond the reach of cell or internet signals for many years.
Initially, SiriusXM’s weather service was voice-only. It was eventually expanded to include weather and ocean data to onboard navigation displays in partnerships with leading marine manufacturers under SiriusXM Marine Weather.
SiriusXM launched its Fish Mapping Service back in 2019. The data for the Fish Mapping service is provided by Maxar Technologies .
The oceanographers at Maxar compile and analyze data available from various sources and transfer it to SiriusXM. The data is incorporated into the satellite feed for the company’s Fish Mapping customers.
Sirius XM Holdings Inc. Price and Consensus
Sirius XM Holdings Inc. price-consensus-chart | Sirius XM Holdings Inc. Quote
At the time of the launch, the comprehensive SiriusXM Marine package was and is still available on Garmin’s (GRMN - Free Report) GXM 54 satellite weather and radio receiver.
The integration of Fish Mapping with Garmin’s multi-function displays provides regular updated scientific information beyond cellular coverage to owners of GXM 54 receivers.
Earlier in 2021, SiriusXM’s Fish Mapping service also became available on Furuno’s NavNet TZtouch3 line of multi-function displays (MFDs).
Later in June 2021, the company partnered with Simrad to announce the availability of SiriusXM’s Fish Mapping on Simrad’s NSSevo3, NSOevo3, NSSevo3S and NSOevo3S line of multi-function displays (MFDs).
In the last reported quarter, SiriusXM’s total revenues rose 4.2% year over year to $2.28 billion.
Subscriber revenues rose 5% from the year-ago quarter’s levels to $1.70 billion. Meanwhile, advertisement revenues increased 4.4% year over year to $495 million.
Equipment revenues declined 11.7% year over year to $53 million. Other revenues segment, which offers ancillary services, such as Backseat TV, data and weather services, declined 5% from the year-ago quarter’s levels to $38 million.
Zacks Rank and Stock to Consider
Currently, SiriusXM has a Zacks Rank #3 (Hold).
Shares of SIRI have rallied 8.7% against the Zacks Broadcast Radio and Television industry’s decline of 21.7% and the Consumer Discretionary sector’s fall of 11.4% in the year-to-date period.
A better-ranked stock in the Zacks Consumer Discretionary sector is Funko (FNKO - Free Report) , sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Funko’s shares have declined 4% compared with the Zacks Consumer Products - Discretionary industry’s fall of 24% and the Consumer Discretionary sector’s decline of 11.5% in the year-to-date period.