Sirius XM (SIRI) Unveils Its Music Lineup for New Year’s Eve – December 30, 2022

Sirius XM (Siri Free Report recently announced a broad line-up of New Year’s Eve music programming.

Includes Lizzo’s new channel. Riso Radiofeaturing Lizzo’s greatest songs and exclusive performances from Sirius XM Small Stage Series concerts. .

Besides this channel, it is hosted by Sirius XM. New Year’s Eve 2023 The program will be hosted by HITS 1’s Max Smith and Sam Smith, with special performances by Lizzo, Charlie Puth, Halsey, One Republic, Cardi B and more. His SiriusXM listeners across North America can also check in live at HITS 1.

Sirius XM also broadcast New Year’s Eve Live: Nashville’s Big Bash Starting at 6pm ET on December 31st on the Highway channel and the SXM app. This is a star-studded entertainment show hosted by Grammy-nominated artists Jimmy Allen and Elle King. entertainment tonight Rachel Smith.

These big shows featuring big-name celebrities have the potential to draw listeners to Sirius XM’s platform, but with the lifting of COVID-19 restrictions nearly two years later, people are moving outdoors. and celebrate with each other. This could lead to fewer viewers for Sirius XM’s year-end lineup.

Strong content to help Sirius XM stagnant topline

Sirius XM’s two main sources of revenue are advertising and subscriptions. The advertising market will shrink in 2022 due to inflation, and companies are cutting costs. Sirius XM advertising revenue remained flat in the third quarter of fiscal year 2022. We expect this trend in the advertising market to continue in the coming quarters.

In terms of subscriptions, Sirius XM has failed to thrive here as well. Sirius XM subscribers in the third quarter of 2022 fell from 34.27 million in the same period last year to about 34.17 million.

This demonstrates the lack of strong content that fails to attract new listeners to Sirius XM’s various platforms.

Sirius XM shares are down 8.3% year-to-date, compared with Zack’s consumer discretionary sector, which fell 37.7% over the same period.

To combat this, Sirius XM has worked hard to enhance its library and add new content.

Sirius XM’s Pandora has released a list of famous artists who participated in the 2023 Pandora Ten. This includes Álvaro Díaz, Ayra Starr, Coco Jones, Fred again, GloRilla and more.

Sirius XM also recently announced a multi-year extension of two of its most popular movie podcasts. how was this made?has grown to 40 million downloads annually since its launch in 2010. not spooled It has been downloaded over 23 million times since its release in 2018.

Additionally, Sirius XM will give sports fans access to 45 games this college football postseason. college football playoff semifinals When national championship.

These exciting slates are expected to address audience preferences in diverse interest areas such as sports, music and movies, attracting them to the platform and expanding Sirius XM’s user base.

Sachs Ranks and Stocks to Consider

Sirius XM currently has a Zacks rank #4 (sold).

Some better-ranked stocks in the same sector are liberty media (FWONK free report), Hilton Grand Vacations (HGV free report) and Wilko Manufacturing (VIRC Free report), each boasting Zack Rank #1 (strong buy).

Liberty Media’s stock is down 6.5% year-to-date compared with the consumer discretionary sector, which is down 36.4%. The Zacks consensus forecast for the fourth quarter of fiscal 2022 is pegged at 10 cents, up 42% over the past 30 days.

Shares of Hilton Grand Vacations are down 26.1% year-to-date. The earnings forecast for the fourth quarter of fiscal year 2022 is pegged at 77 cents, which has remained constant over the past month.

Virco Manufacturing shares are up 49.5% year-to-date. The revenue estimate is pegged at 47 cents, which has remained constant over the past month.

A complete list of today’s Zacks number 1 stocks can be found here.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *