SiriusXM digs into subscription-based podcast market with Stitcher Premium bundle – TechCrunch
SiriusXM Holdings Inc. is attempting to additional entice prospects by bundling Stitcher Premium with its SiriusXM Platinum Plan.
The streaming large has been attempting to change into the go-to spot for podcasts. SiriusXM initially bought Stitcher for $325 million again in 2020, and later acquired Group Coco earlier this yr for $150 million. After buying Stitcher, the corporate built-in the platform with its current Pandora streaming service.
Now, customers of SiriusXM Platinum ($29.99 per 30 days) can have entry to Stitcher Premium content material at no extra price, although it’s $4.99 per 30 days with out the bundle. Content material coming to SXM contains exhibits like Workplace Girls, Freakonomics Radio, LeVar Burton Reads, Conan O’Brien Wants a Good friend and extra.
“Stitcher Premium is a terrific worth add for our Platinum and Streaming Platinum subscribers. With one subscription and one set of login credentials, our listeners get our full spectrum of unparalleled SiriusXM content material, and now an enormous collection of fashionable podcast content material on Stitcher as nicely,” stated Richard Beatty, SiriusXM’s chief subscription income officer, within the firm’s press launch.
Although SXM is attempting to be the go-to for streaming audio and podcasts, the corporate is competing towards Spotify and Apple.
By the tip of Q2, Spotify, exceeded its subscriber development expectations by counting 11 million web new subscribers along with six million premium subscribers. Now, the corporate has near 433 month-to-month energetic customers and 188 million subscribers. Spotify additionally announced earlier this week it might even be persevering with its relationship with Samsung with extra cross-platform integrations and pre-installations.
In line with a report by Triton, Stitcher has near 14.5 million weekly customers, which SXM is utilizing to say the service is now labeled as “the #1 podcast community”.
As SMX continues efforts within the podcasting market, Apple introduced earlier this week it might be launching two subscription-focused podcast charts. The charts would come with as much as 100 paid exhibits and develop to a worldwide market. Spotify already expanded its podcast subscription program globally in late 2021.
Apple additionally forged a deal with Futuro Studios in an effort to make authentic podcasts and create Apple TV+ exhibits, which might be a particular income for the corporate.
As Spotify and Apple discover distinctive methods to develop their utilization, SXM should bolster efforts in its podcasting initiatives. The corporate already has a partnership with Audio As much as create authentic exhibits and launched new stations with Soundcloud, but it surely seems wanting to do much more on this space.