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Decoder with Nilay Patel

SiriusXM’s 360 strategy with CEO Jennifer Witz

Decoder with Nilay Patel

Vox Media Podcast Network

Technology, Business

4.33.2K Ratings

🗓️ 6 June 2023

⏱️ 66 minutes

🧾️ Download transcript

Summary

Jennifer Witz is the CEO of SiriusXM. You probably know the company as the satellite radio brand in virtually every new car, but it also owns Pandora, a huge podcast network that includes Team Coco and 99% Invisible, a content operation with huge stars like Howard Stern, and has broadcast deals with every major sports league. SiriusXM is effectively the dominant market leader for built-in premium audio in cars, in a time when competition is increasing. As the infotainment system in cars gets ever more complex and computer-like, the Sirius experience has to keep up. On top of that, the state of car software is a mess. GM announced it won’t support Apple CarPlay in new EVs. Other companies are using various versions of Android. Tesla has its own platform. And Sirius has to support all of it with applications that compete with Big Tech companies, all while continuing to integrate the satellite hardware into the cars themselves — on top of launching satellites on SpaceX rockets. Links: After layoffs, SiriusXM looks to star-studded podcasts What Is SiriusXM with 360L? A Breakdown of the New Audio Platform SiriusXM CEO Calls Audio Ad Sales Market “Tough” Transcript: https://www.theverge.com/e/23514318 Credits: Decoder is a production of The Verge, and part of the Vox Media Podcast Network. Today’s episode was produced by Jackie McDermott and Raghu Manavalan, and it was edited by Callie Wright. The Decoder music is by Breakmaster Cylinder. Our Editorial Director is Brooke Minters, and our Executive Producer is Eleanor Donovan. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

When you drive a Chevy electric vehicle, you're getting more than a way to get from point A to point B.

0:06.0

You're saying goodbye to gas stations and hello to open roads.

0:09.0

With the growing network of public charging stations, you'll be able to charge your EV while you shop, work, or do whatever you want to be doing with your time.

0:17.0

Chevy is making EVs for everyone, everywhere. Go to chevrelay.com slash electric to learn more.

0:24.0

Support for this podcast comes from Unisys. Sometimes you'll hear people say, get your head out of the clouds. Well, Unisys disagrees.

0:37.0

They say, keep your head in the clouds. Keep dreaming and keep breaking through by getting your business to the best cloud you can.

0:44.0

Unisys offers app modernization that helps companies move their apps to the cloud, build new cloud native apps, and unlock powerful insights and performance.

0:53.0

With Unisys cloud solutions, the sky is not the limit. It's just the beginning of unlimited potential.

0:59.0

It's the place where one breakthrough leads to another. Unisys, keep breaking through.

1:07.0

Hello and welcome to Decoder. I'm Neil Apital, editor and chief of the Verge. Decoder is my show about big ideas and other problems.

1:14.0

Today I'm talking to Sirius XM CEO, Jennifer Witts.

1:19.0

Now Sirius XM is a quietly fascinating company. You probably know it as the satellite radio brand that's in virtually every new car, but it also owns Pandora.

1:29.0

It has a huge podcast network that includes 99% invisible in Team Coco.

1:34.0

And it has a content operation that supports huge stars like Howard Stern and has deals with every major sports league.

1:41.0

What's particularly interesting about Sirius XM is that it started as a distribution play, actually two distribution plays.

1:48.0

Sirius XM were two different companies. They both launched competing satellite radio services in the early 2000s, basically pre-internet.

1:56.0

They eventually merged, but they used very different parts of the radio spectrum.

2:00.0

You'll hear Jennifer refer to this as the low band and high band.

2:04.0

Those bands are still incompatible, so Jennifer has to manage satellite development and deployment for all those cars on the road.

2:12.0

Because the satellite distribution network is still the most lucrative part of her business. Sirius is effectively the dominant market leader for built-in premium audio and cars.

2:23.0

At the same time, the competition is here. It's pretty obvious that the internet and mobile networks are a pretty good way of distributing audio content.

2:31.0

Spotify exists, podcast exists, and yes, the Sirius XM app exists as well.

...

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