The music streaming landscape is changing.
Just in the last three months we have seen the arrival of a serious new player in the form of TikTok Musicas well as the launch of a much-discussed new artist-centric payout streaming model from Deezer.
MBW also recently reported that Spotify is introducing major changes to its own remuneration model in Q1 2024.
Today (November 8) brings more potentially significant streaming business news, with the arrival of a new challenger to Spotify from an already established player in the audio sector: the US satellite radio service SiriusXM.
At an event in New York today, SiriusXM announced a rebrand, including a new logo (the second company in the streaming business to do so this week).
SiriusXM also introduced a new streaming app and a new “All Access Streaming Plan” for $9.99 per monthwhich the company says is “aimed at welcoming in a new generation to SiriusXM listeners”.
According to SiriusXM, the app “will offer listeners a more personalized, easy-to-use, lean streaming experience that puts discovery at the forefront.”
The new app will feature four curated tabs, including custom For You landing page for each listener as well Music, I’m talking and Podcastsand Sports.
The app also sees SiriusXM revamp its playback functionality with a new media player optimized for each type of content; improved search capabilities and an expanded podcast library. It also includes a central audio library with new offline listening and download capabilities.
As noted by Verge,’The result is something that works and looks a lot more like Spotify, with the new app representing the company’s “most significant attempt” to consolidate its podcast, music and talk offerings.
SiriusXM acquired music streaming service Pandora in 2019 in an all-stock transaction valued at $3.5 billion and podcast platform Stitcher for more than $300 million the following year.
Additionally, in a separate challenge to Spotify’s continued foray into the audiobook space, SiriusXM also revealed that it is working with audiobook platform Audible to “share content and give subscribers the opportunity to experience each other’s offerings in early 2024.” “.
According to SiriusXM CEO Jennifer Weitz, “the introduction of the new SiriusXM streaming experience marks a pivotal moment” in the company’s history.
The new app and streaming plan are apparently designed to attract listeners from other subscription streaming services — and it could pose a serious challenge to the old guard of music streaming.
With the launch of the new app next month, the company will introduce new “guest DJ channel takeovers” from over 160 popular artists and bands ranging from Olivia Rodrigo and Cardi b to Alice Cooper and Luka Combs.
The app announcement and rebranding follows last week’s news that SiriusXM’s Pandora has lost out 112,000 subscribers in the third quarter, while the satellite service lost 94,000. (Spotify’s global premium subscriber base grew to 226 million paying users in Q3, adding 6 million in the quarter.)
SiriusXM’s new app begins rolling out to the App Store, Google Play and Amazon Fire devices on December 14, with additional platforms and features coming in early 2024.
“The introduction of the new SiriusXM streaming experience marks a pivotal moment in our history that ushers in a new era of innovation at our company.”
Jennifer Witz, SiriusXM
“The introduction of the new SiriusXM streaming experience marks a pivotal moment in our history that ushers in a new era of innovation for our company,” said Jennifer Weitz, CEO of SiriusXM.
“And this launch is just the beginning; we will continue to innovate and develop our product offerings in the coming year and beyond, striving to provide our subscribers with the best listening experience on the go, in the car and wherever they choose to listen.
“From unmissable live moments to the perfect soundtrack for every occasion, with the new SiriusXM, we’re bringing our distinctive features to the fore and welcoming a new generation of listeners, bringing them closer to what they love.”
Susie Watford, senior vice president, chief growth officer at SiriusXM, said, “We’re thrilled to introduce the new SiriusXM brand to the world, which brings to life the best of what we have to offer and welcomes a new generation of listeners while remaining true to our roots.
“Our new brand platform, Closer, showcases the unique nature of our offering, giving true fans the space to delve deeper into what they love.”
Music business worldwide