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Sirius XM (SIRI) Introduces Multi-Platform National Ad Campaign

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Sirius XM (SIRI - Free Report) recently announced the launch of a major national multi-platform advertising campaign called Closer. This campaign portrays how SiriusXM brings listeners closer to what moves them. The company worked with an agency called Uncommon Creative Studio to make this happen.

SIRI released a short film called A Life in Sound, directed by the Emmy award-winning director Kim Gehrig. The film follows a woman dancing through different parts of her life while listening to SiriusXM. It shows how the company offers a wide range of audio experiences that can really move people.

The campaign also includes big ads in cities and digital platforms. These ads focus on three popular types of content on SiriusXM, including hip-hop, country and sports. The ads capture the energy of these fanbases and how SiriusXM brings them together. The ads feature real subscribers of SIRI in places like New York, Los Angeles, Nashville, Boston and Atlanta.

The Closer campaign follows other successful projects by SiriusXM like the Guest DJs and Metal Sweater campaigns. These campaigns, along with SIRI's new logo and refreshed brand identity, show how it brings fans closer to what they love. The company plans to continue this focus throughout 2024 and beyond, with more campaigns highlighting its diverse voices and talents.

SIRI’s New Podcasts to Aid Subscriber Growth

The company recently announced a few podcasts, such as Stars and Stars with Isa, 2024 FIA Formula One World Championship and 2024 NTT INDYCAR SERIES. These are expected to aid subscriber growth in the upcoming quarters.

The Zacks Consensus Estimate for SIRI’s 2024 subscribers is pegged at 33.95 million, indicating year-over-year growth of 0.22%. The consensus estimate for 2024 revenues is pegged at $8.79 billion, indicating a year-over-year decrease of 1.84%.

SiriusXM and Futuro Studios are teaming up to bring a new podcast called Stars and Stars with Isa. Starting Mar 19, astrologer Isa Nakazawa will chat with famous celebrities to uncover what their birth charts say about them and their lives.

The company is starting its coverage of the 2024 FIA Formula One World Championship with the first race, the Formula 1 Gulf Air Bahrain Grand Prix 2024, on Mar 2. All Formula 1 races, F1 Sprint events and qualifying sessions are accessible to subscribers on their cars and through the SiriusXM app.

SIRI has announced its coverage plans for the 2024 NTT INDYCAR SERIES season. Starting with the first race, the Firestone Grand Prix of St. Petersburg presented by RP Funding on Mar 10, SiriusXM subscribers will be able to listen to live broadcasts of all 18 events on the INDYCAR calendar.

Shares of this Zacks Rank #3 (Hold) company have lost 23.9% in the year-to-date period against the Zacks Consumer Discretionary sector’s growth of 1.6% due to increasing competition from music giants like Spotify Technology (SPOT - Free Report) , Apple (AAPL - Free Report) music and (AMZN - Free Report) music.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Amazon Music is a well-known music app that lets users listen to music whenever they want. It was the first application to offer customers music on demand without any restrictions. Some of the top podcasts on Amazon Music are Even the Rich, The Morning Brief and Business Movers.

Spotify is a super popular music platform worldwide. It lets users stream millions of songs online. Some of the famous podcasts that can be found on Spotify are The Daily, Breaking Bread and Stuff You Should Know.

Apple Music is a great option for users who want everything in one place, including music, videos and more. Key podcasts available on Apple Music include Fresh Air, U Up? and The Handoff.

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