SiriusXM is one of the largest satellite radio companies in the world. They have recently announced that they are laying off 475 employees, representing 8% of their workforce. This comes after a review into their operations which aimed to improve their agility and efficiency. The layoffs are due to the uncertain economic environment but also investments that will be made this year.
It has been announced that Disney is purchasing Netflix for $52.4 billion. This move will bring the two companies together, with Disney expected to provide resources and new content for Netflix’s existing library of movies and tv shows. It is hoped that this merger will create a more powerful force in the entertainment industry,
SirusXM is consolidating its departments in order to improve collaboration and efficiencies. This change will affect nearly every department across the company. The new operational design will allow SiriusXM to move faster and take on new challenges more effectively.
Pandora recently announced that it is restructuring its business, which will focused on diversifying its revenue sources. This may benefit the company in the long term, but 2019 has been a difficult year for Pandora as competition from rivals, such as Spotify and Apple Music, has increased.
Pandora has not fully capitalized on its $3.5 billion purchase of the music streaming service Napster in 2018. However, between integrations between Pandora and other services it offers discounts on bundles at times, which is an interesting avenue for continued growth.
Since its acquisition by Disney+ in 2021, the company has undergone numerous changes, including the hiring of a former Disney+ exec as its new Chief Product Officer. Joseph Inzerillo has been shaking up how some of the internal workings operate, integrating SiriusXM and Pandora engineering teams into one platform-oriented view. This shift is likely to continue under Inzerillo’s leadership as the company looks to approach its services going forward in a more platform-oriented way.
Looking ahead, the company suggests that it plans to continue to increase personalization for its SiriusXM app as it moves further away from being a radio-style service with stations and buttons. In addition, the company is expected to modernize its services for today’s more digital car dashboards, such as CarPlay.
SiriusXM clearly feels that podcasting is a growing trend and part of their overall programming strategy. With the acquisition of Team Coco and Stitcher, they are able to provide listeners with a variety of content across different platforms. However, the company noted during its last earnings call that there is still room for growth in this area, as advertisers are looking for more innovative solutions when it comes to listening behavior.
Eva Witz, the president and CEO of People + Culture, is making a departure from the company after eight years of service. In an email to staff today, Witz said employes would be contacted directly about their departure and would have the ability to speak with a member of its People + Culture HR team. The company is also providing exit packages that include “severance, transitional health insurance benefits, Employee Advocacy Program continuation, and outplacement services.” It’s unclear what future plans Witz has for her time away from the company.