SiriusXM and Pandora have joined together to become the largest audio entertainment company in the world.
On the 1st February SiriusXM completed their acquisition of Pandora, a deal agreed in September and approved in November. Combining Pandora’s streaming services and SiriusXM’s exclusive content and programming together they now reach over 100 million listeners between both platforms.
Together they have created the world’s largest audio entertainment company. They hope that together they’ll be able to lead the way in digital music and grow their existing offerings whilst creating new packages that help artists grow and build bigger audiences.
SiriusXM CEO, Jim Meyer says: “This is a tremendous outcome for two organizations with complementary platforms and large audiences, and we could not be more excited to be moving forward as one company. SiriusXM now reaches more than 100 million people across its audio products. That is a powerful platform for consumers, content creators and advertisers.
“Importantly, the premier products that SiriusXM and Pandora listeners have enjoyed for years are not changing. On behalf of everyone at SiriusXM, we are excited to officially welcome the talented Pandora team and look forward to working with all of our employees to continue delivering the best audio entertainment experience in the world and creating enhanced value for stockholders.”
SiriusXM have summarised their approach with Pandora for the future:
- Capitalizing on cross-promotion opportunities across the combined company’s more than 100 million listeners in North America, with close to 40 million self-paying subscribers, and 75 million trialers and ad-based listeners, which represents the largest digital audio entertainment audience in the U.S.
- Pairing SiriusXM’s curation and exclusive programming with Pandora’s uniquely predictive listener personalization technology – representing one of the world’s most extensive datasets of music listening information – to deliver audio experiences tailored to the tastes of each listener.
- Creating new, unique audio packages that bring together the best of both services, providing a powerful platform for consumers to connect with established and emerging artists, entertainment brands, and talent.
- Expanding monetization opportunities through both ad-supported and subscription services – in and out of the vehicle – creating innovative new ways for listeners to enjoy even more audio entertainment.
- Continuing to invest in talent, content, technology and innovation to create and offer the best audio entertainment available, including specially-created music channels and programming from major and emerging artists, provocative talent in talk, entertainment, comedy, and exclusive sports programming.