And as we have always said, business models really do matter. Our very distribution models, subscription and ad supported reach audiences wherever and however they want to listen and bring value to the Sirius XM subscription as exemplified by recent deals with Kevin Hart, Kelly Ripa and Tom Brady. You can also use it to listen to live events, such as concerts or political debates. Sirius Lifetime Subscription On conversion rates, so I talked a bit about this on the last call, but just to add some more color conversion rates are continuing to trend in the low-30s and the for new car in the low-20s for used. Welcome to Sirius XMs first quarter 2023 earnings conference call. The SiriusXM segment delivered $1.7 billion in revenue, which was down 2%, principally due to lower OEM paid promotional trial revenue reflected in our ARPU of $15.29 and declining subscriber revenue at Connected Vehicle, partially offset by a weighted average subscriber base that was up 1% year over year. And returning this fall, Let's Go, hosted by Tom Brady, Larry Fitzgerald, and Jim Gray, will be available first to our subscribers, then on-demand exclusively in our app. Sirius XM's guidance calls for $9 billion in revenue this year, flat with where it landed in 2022. To remove a favorite from Sirius XM, try: Step 1: Go to the SiriusXM website and sign in to your account. We extended agreements with the NHL and NASCAR ensuring continued access for our subscribers for years to come. What do you see as the right leverage profile, the right mix of capital returns? The change in royalties was driven by the expiration of the discounted rates on pre-1972 music as of the end of 2022 and a CRB announced 9% CPI inflator on webcasting performance rights and programming and content expenses climbed 6% due to increased licensing fee and production costs. And the great thing about our guidance is that if in the cost reductions weve put in place, were really well positioned, even if the market trends a little softer going forward. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. The OEM paid promotional revenue has been trending down over the last few years. Yes. On the churn side, in-car, Q1 is always seasonally soft for us, and we anticipate that to be true for this year as well. Greg and guests discuss politics and news of the day. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. At the intersection of the two, our programmatic podcast sales doubled year-over-year, albeit, office small base and contributed to overall podcast ad revenue growth of 34%. SIRI earnings call for the period ending March 31, 2023. But we are well positioned to make sure that our incorporation sustains through whatever model the OEMs choose to pursue. Working his way up from humble minimum wage beginnings, through the infancy of satellite radio, to finally emerge as one of the most memorable founding voices By. And I believe that is a very strong proof point for what we can continue to drive and see when we launch this new platform that is going to support 360L, but also drive cross-listening in and out of the car and provide much more personalized listening experiences. Today, well have prepared remarks from Jennifer Witz, our Chief Executive Officer; Sean Sullivan, our Chief Financial Officer; and Tom Berry, who will assume the position of CFO tomorrow. Thank you. I mean, what portion are coming in on that platform? Our next question is coming from the line of Stephen Laszczyk with Goldman Sachs. And I believe as we launch this platform, we will have more and more opportunities to better execute on that. Looking at the capital allocation for first quarter of 2023, we return to $160 million to the shareholders comprised of 94 million of dividends and 67 million of stock repurchases, as we reentered the market following our fourth quarter results. discussions about both actual results and adjusted results. Our varied distribution models, subscription, and ad-supported reach audiences wherever and however they want to listen and bring value to the SiriusXM subscription as exemplified by recent deals with Kevin Hart, Kelly Ripa, and Tom Brady. Back out the acquisition of the Pandora streaming service that artificially inflated top-line results in 2019, and Sirius XM investors have been treated to eight consecutive years of single-digit organic revenue growth. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. We haven't changed the guidance on subscribers, so still expecting modestly negative for the year. The cheapest option is Sling. Given the new Mercedes-Benz deal and some recent price increases, what are the impacts on ARPU in the near term? Sirius XM Holdings Inc. (SIRI) Q1 2023 Earnings Call Transcript As we begin, I'd like to remind our listeners that today's call will include discussions about both actual results and adjusted results. 13. SiriusXM also launched Team Coco Radio in November to leverage the podcasts that the Conan OBrien-led production studio creates. I just saw a stat the other day that we watch quite frequently about intent to buy and its at one of the highest levels weve seen over the last couple of years. Entertainment Television, ESPNU, Freeform, FX, Science, FYI, MTV2: Music Television, Animal Planet, BBC America, CMT, and more. While the exact timing of construction milestone payments can inevitably shift. And then we just have these solutions in market for advertisers to come in and either buy across our network on an audience basis or by show level and even custom integrations. https://buff.ly/41pw0RC . Sure. WebNewsmax isn't a paid service (for the listener) and depend on ad revenue. As we previously discussed, CapEx should increase by some 200 million for the full year 2023 as we ramp SXM-11 and SXM-12 on top of ongoing preparation for SXM-9 and SXM-10. A longtime Newsmax contributor, #1 rated radio host and successful columnist, Gerry Callahan calls it like he sees it and offers sharp commentary on the news of the day. Sirius XM (SIRI) Q1 2023 Earnings Call Transcript Furthermore, OAN (One American News), known as a great SiriusXM The fourth quarters trial starts declined sequentially by 3% and 7% for new and used vehicles, respectively, and this reduced conversion opportunities for us in the first quarter. Thank you. What is SiriusXM, What's On, Subscriptions, Shop and Listen Online. The Favorites area will appear; click on it, and the web will show all of your presets. One of the things we're most proud of, is the true diversity of voices we have on the platform, and basically letting our subscribers and listeners and trialers decide what they want to listen to at any given moment. But he said while SiriusXM may be a potential or logical home for Carlson or Lemon, Greenstein said they consider the totality of the package which would likely include whether advertisers would support their shows and whether there would be a backlash from subscribers or employees. It probably definitely falls into the diverse preferences of listeners buckets, but you just have two rather polarizing TV news personalities becoming available, albeit some bad actor issues that Tucker Carlson, Don Lemon, you certainly have been very tolerant view on all sides of the spectrum.
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