Source: SiriusXM

If you were craving a more personalized satellite radio experience, SiriusXM heard you. Yesterday SiriusXM and FCA US LLC announced they were launching the next generation of in-car audio entertainment, complete with a personalized listening experience with more variety, smart content recommendations and on-demand radio. Debuting yesterday, the new ‘best-in-class’ listening experience will first be available to SiriusXM All Access subscribers in the 2019 Ram 1500 truck on a 12-inch display touch screen.

The new product – called SiriusXM with 360L – offers listeners a 360-degree listening experience through satellite and streaming radio along with added features and functionality. For example, personalized content recommendations and exclusive on-demand programming are now available via the touch screen. For example, a Howard Stern listener might have the option to tune in to a recent interview or receive a recommendation to a different channel based on their listening habits.

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Source: SiriusXM

‘We think SiriusXM with 360L will revolutionize the way you listen to audio in the car, and we are excited to launch it in the all-new Ram 1500, which once again is a leader in bringing the latest technological advancements to drivers,’ said Jim Cady, executive vice president of products for operations and connected vehicles services at Sirius XM.

‘SiriusXM with 360L comes along at a time when embedded connectivity is enhancing the in-vehicle entertainment experience for more and more drivers and their passengers. We are using that connectivity to take a giant step forward with our platform, and SiriusXM with 360L improves both our consumer offering and our ability to understand and serve our subscribers,’ Cady added. ‘With a better, more adaptable user interface, it allows easy access to content on demand, more personalized programming and an improved display. It will also enable us to understand user behavior, and so over time be better at recommendations and discovery across our wide bundle of content.’

SiriusXM with 360L includes:

More than 200 channels via the in-dash Uconnect 4C NAV with 12-inch touch screen, including channels previously only accessible online

Access to thousands of on-demand shows, interviews and events

Enhanced sports play-by-play for more pro and college teams

Smart content recommendations based on their listening habits

Dynamic user interview with easy navigation between channels and shows, including live and recorded content

Individual listener profiles to support multiple drivers and passengers

Ability to sync listener’s mobile phone to selections in the vehicle

Voice search capabilities to access SiriusXM content library

Subscription management of account through the touch screen when vehicle is parked

Over-the-air updates to get immediate access to new features

But wait, there’s more. Ram 1500 owners will get a one-year subscription to SiriusXM All Access with their purchase of 2019 model vehicles equipped with the SiriusXM 360L system.

According to SiriusXM Holdings Inc., it is the world’s largest radio company, based on revenue, and it has approximately 32.7 million subscribers. SiriusXM offers a variety of subscription plans, starting as low as $5 a month for a six-month car plan. SiriusXM also offers streaming add-ons and exclusive content like Howard Stern.

The news comes less than a week after SiriusXM announced its 2017 subscriber numbers and issued 2018 subscriber and financial guidance. The company said it added approximately 1.56 million self-pay subscribers to finish 2017 with about 27.5 million self-pay subscribers.

‘2017 was a year of remarkable performance for SiriusXM, and I congratulate our team on its hard work and efforts to achieve these results. In addition to ending the year with a record number of subscribers and setting new high water marks for revenue, adjusted EBITDA, and free cash flow, we made substantial progress in our efforts to win business in used cars and deploy our next-generation 360L platform. We also continued to return significant capital to stockholders in 2017 via stock buybacks and an increased dividend, and we have set ambitious targets for continued growth in 2018,’ said SiriusXM CEO Jim Meyer in a press release.

The company offered the following guidance for 2018:

Self-pay net subscriber additions of approximately 1 million

Revenue of approximately $5.7 billion

Adjusted EBITDA of approximately $2.15 billion

Free cash flow of approximately $1.5 billion

Insider Take:

Finishing subscription numbers above guidance, SiriusXM is starting 2018 with a bang. The company is projecting continued success with its subscription numbers, and its new product is likely to instill some loyalty in existing and new customers. It will be interesting to see how their investment in Pandora plays out in 2018.