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Here we go again with another Executive Turntable, Billboard’s weekly compendium of promotions, hirings, exits and firings — and all things in between — across the music business. There’s a full slate of news this week, so let’s get started.
Warner Music Group expanded Niels Walboomers’ role as president of recorded music and publishing in Benelux to include oversight of legendary dance label Spinnin’ Records. This follows the departure of co-president Ewout Swart after 16 years with the company, having risen from royalties manager in 2009 to chief operating officer in 2016 and co-president in 2023. His exit comes shortly after Roger de Graaf, Spinnin’s co-founder, stepped down in November 2024 after 25 years with the label. Spinnin’ Records will continue to operate independently of WMG Benelux, with Walboomers working closely with Jorn Heringa on A&R activities. Founded in 1999, Spinnin’ has been a key force in the EDM industry, representing artists such as Afrojack, Martin Garrix, Tiësto and Nicky Romero. It also houses notable artist imprints, including Tiësto’s Musical Freedom and David Guetta’s Future Rave, and in 2019 launched Spinnin’ Records Asia. WMG acquired Spinnin’ in 2017, leading to co-founder Eelko van Kooten’s departure and subsequent launch of Ledo, a digital distribution platform. “With new leadership, we’re helping Spinnin’ Records write an exciting new chapter for its artists,” said Simon Robson, president of EMEA recorded music, WMG. “Niels has gone from strength to strength since joining WMG, and with his recent work with Spinnin’ Records, it was an easy decision to expand his role.”
The Ryan Seacrest Foundation, a non-profit organization focused on inspiring youth through entertainment and education, announced new appointments to its industry advisory committee. This committee, composed of pros from music, TV, film and sports, provides expertise and resources to create experiences for young patients in children’s hospitals. New members include Dan Pearson (Lakeside Entertainment Group), Fount Lynch (WMG), Jacki Artis (UTA Foundation), Jennifer Vessio (1220 Entertainment), Jess Anderson (The Lede Company), Lisa Wolfe (Range Music), Lucas Romeo (REPUBLIC), Nicholas Fustor (WWE), Nikki Walsh (Universal Pictures) and Otis Maher (iHeartMedia). They join returning members Debra O’Connell (Disney Entertainment), Devin DeToro (Red Light), Keith Rothschild (RCA) and Scot Fink (Disney Music). The committee plays a crucial role in guiding the foundation’s initiatives, bringing talent visits to Seacrest Studios, securing behind-the-scenes content and aiding in fundraising.
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SiriusXM Holdings announced the appointment of Anjali Sud as a new independent director on its board of directors, filling the vacancy left by James E. Meyer, who resigned this week. Sud, an accomplished executive in media and technology, is currently the CEO of Tubi, Fox’s free streaming service. She previously served as CEO of Vimeo, where she took the company public. Jennifer Witz, CEO of SiriusXM, praised Sud’s track record and expertise, highlighting her potential to contribute to the company “as we look to maintain our strong standing and to position ourselves for future growth.” Meyer, who joined SiriusXM in 2004 and served as CEO from 2012 to 2020, expressed pride in the company’s achievements and confidence in its future. “I am extremely proud of all that SiriusXM has accomplished since I first arrived over two decades ago, of the unparalleled audio entertainment the company delivers to listeners across North America and the value it brings to its stockholders,” he said. Witz thanked her predecessor for his commitment and contributions over the years, wishing him the best.
Chris Martignago // Credit: Taylor Christian Jones
Chris Martignago has been promoted to vp of A&R at independent publisher Prescription Songs. Based in Nashville, he works with artists like Trent Dabbs, Anderson East, JT Daly, Nick Lobel and Tony Esterly. With over 14 years of A&R experience, Martignago began his career at Atlantic Records, where he rose to director of A&R and research, before joining Prescription Songs in 2021 as a senior A&R. Over the years, he has contributed to gold and platinum-certified hits for artists such as Paramore, Marshmello, Shinedown, Ingrid Michaelson and Saweetie, among others. Additionally, he founded HELL YES!, an online community supporting emerging songwriters, and actively volunteers with local schools and art programs. Rhea Pasricha, Prescription Songs’ head of A&R for the West Coast, praised his leadership, saying he has been instrumental in shaping the company’s roster by championing diverse talent.
Wasserman Music announced three new hires: Tim Beeding, Chloe Garcia and Doug Singer. Beeding spent 20 years at CAA and will co-lead Wasserman’s fairs and festivals division with Shannon Casey. Los Angeles-based Singer, previously partner at WME, joins Wasserman Music as vp of its global agent team. Finally, Los Angeles-based Garcia joins as director of tour marketing following a tenure as tour marketing agent at WME. Wasserman Music president Lee Anderson: “Each of them is a highly regarded leader in their area of expertise, and all of them are exceptional humans we’re proud to call colleagues and partners.” –Dave Brooks
Big Yellow Dog Music, a Nashville-based independent publishing and media rights company, announced a trifecta of promotions across its team. Jonah Gordon has been elevated to manager of sync, expanding his role in placing songs across film, TV, advertising and media. Alana Morgan steps up to coordinator of A&R, where she will focus on talent scouting and development, helping grow the company’s diverse artist and songwriter roster. Brannen Carter has advanced to catalog administrator/coordinator of label services, taking on greater responsibilities in publishing administration and label marketing. CEO and co-owner Carla Wallace praised their growth, stating, “each of these three has shown exceptional expertise, and we look forward to their contributions in 2025.” Big Yellow Dog Music boasts a catalog featuring hits performed by Meghan Trainor, Kacey Musgraves, Maren Morris, The Jonas Brothers, Jennifer Lopez, Hozier, Demi Lovato and more, while its sync division has secured placements with Target, Apple and more.
Chelsea Blythe exited her role as executive vp of A&R at UMG Nashville on March 14, having joined the label in 2023. On social media, she expressed gratitude for the opportunity to work in Nashville, highlighting her love for country music, but that it was “time to go back to California.” Blythe thanked now-former CEO Cindy Mabe, who departed the Nashville label last month, along with artists, managers, producers, publishers and colleagues, for their support. Before UMG Nashville, Blythe was senior vp of A&R at Def Jam, leading efforts for artists like Armani White and 26AR. She began her career at Interscope Records, working with Kendrick Lamar and Rae Sremmurd, and later moved to Columbia Records, signing Symba and Baby Keem, and developing Polo G and The Kid LAROI.
AEG Presents appointed Lisa Mart as the regional general manager of indigo at The O2 and Watford Colosseum. With over 15 years of experience in live events and venue management, Mart will oversee the commercial and operational success of both venues. This role supports AEG Presents UK’s expansion of its mid-size venue portfolio, including the reopening of Watford Colosseum in 2024 and the launch of the Olympia Music Venue in 2026. Mart previously held leadership roles at ATG Entertainment and was most recently venue director at Swansea Building Society Arena. Stuart Dorn, AEG Presents UK’s group venues operations director, welcomed Mart, saying “she brings a wealth of experience, which will help with both the establishment of Watford Colosseum and the continued growth of indigo at The 02” — which is set to host over 200 show this year.
Lauren Camp // Courtesy Image
Creed Media wants to pack more punch in the U.S., appointing Lauren Camp as head of strategic partnerships in its expanding Los Angeles operation. Camp is tasked with driving new business opportunities, building partnerships with agencies and influencers, and enhancing long-term value as Creed scales in North America. With over a decade of experience in music, entertainment, tech and sports, Camp founded On Record in 2017 to support independent artists and creatives. Her firm has collaborated with hundreds of artists, brands and labels, offering counsel in branding, media relations and crisis management. She has worked with Brent Faiyaz, FNZ, Pink Sweat$, and corporate clients like Stem and LVRN. She also manages R&B artist Kyle Dion and previously held leadership roles at FYI Brand Group and Hiltzik Strategies. Based in Stockholm with branches in New York, London and elsewhere, Creed Media has orchestrated campaigns for artists like Post Malone, Beyoncé and Dua Lipa.
The Country Music Association announced a big round of promotions and hirings. Ben Balch has been promoted to vp, accounting and finance; he joined the CMA in 2013 as a senior accountant and previously worked at Tractor Supply Company. Aaron Hartley has been promoted to sr. director, business affairs, while April Edman joins as director, accounting and finance. Edman previously served as sr. director, finance at the Sarah Cannon Research Institute. Jason Rost joins as director, ticketing and premium experiences; he previously served as assistant athletic director, ticket initiatives and customer relations at Penn State University. Kevin Coffey has been promoted to director, brand partnerships development, while Meredith Goucher has been promoted to director, international relations and development. Isabel Baldinger has been promoted to marketing manager, while Anthony Sinnott has been hired as CRM Manager and Cailey Parker has been bumped up to full-time as finance operations specialist. –Jessica Nicholson
NASHVILLE NOTES: SMACK backed Mak Symmonds as director of marketing. She’ll lead strategic campaigns across the company’s management, label and publishing arms to boost the visibility of artists and songwriters like Walker Hayes and Shane McAnally. Symmonds brings seven years of experience from Piedmonte & Co., where she excelled in elevating artists’ profiles through major releases, events, partnerships, and marketing campaigns … Stem is bolstering its Nashville operations by naming Courtney Daly as director of artist and label strategy. Daly, who previously worked at Big Machine Label Group, brings nearly ten years of expertise in digital strategy, e-commerce, and DSP relations.
Brad Banducci, the former CEO of Woolworths Group, was appointed chief executive officer of TEG, while Geoff Jones is transitioning to chairman after 14 years as CEO. Banducci, with three decades of leadership in retail and consumer sectors, follows his passion for live events in this new role. Jones, awarded the Order of Australia Medal, played a key role in transforming TEG into a global leader in ticketing, live entertainment and technology. Before joining TEG in 2007, Jones held roles at IMG, Foster’s, and served in the Australian Defence Force. TEG is owned by Silver Lake, a private equity firm focused on technology investments.
ATC Group promoted Ric Salmon to the new role of chief growth officer. Based in London, Salmon has been with ATC for a decade, managing artists like Laura Marling, Glen Hansard, and Trevor Horn. He also co-founded Driift, a BAFTA-winning livestream company now part of ATC Services. Before ATC, Salmon managed global artists such as Seal and Morrissey and held senior A&R roles at Sony Music, Ministry of Sound, and Warner Music International, working with artists like Eric Prydz, Rod Stewart and The Corrs. In his new role, Salmon will focus on expanding ATC’s full-service model through acquisitions and partnerships. ATC Group, which saw a 107% revenue increase in 2024, manages artists like Nick Cave and PJ Harvey and books shows for over 570 acts.
Round Hill Music founder and CEO Josh Gruss is opening Round Hill Music Co., a hybrid music store in Greenwich, Conn., at 398 Greenwich Ave. this May. The store is designed as a spot for musicians, collectors and fans of all stripes, blending tasty guitars, curated vinyl, apparel and other goods into an immersive environment. Conceived as a personal passion project by Gruss, the store aims to bridge the gap between serious musicians and casual listeners. Located a couple minutes from the Greenwich train station, it features listening stations and what it describes as an “inviting layout for effortless music discovery.” Gruss, who moonlights as guitarist in the rock band Rubikon, said he was inspired by his favorite music stores as a kid, including the sadly-gone block of instrument shops on 48th Street in NYC and record shops like Tower Records and Long Island Sound. Round Hill Music Co. will also feature a live performance stage for small concerts and events.
Josh Gruss’ shop in Greenwich.
Round Hill Music Co.
The Core Records appointed Zach Siegal-Eisman as head of audience development and insights. With over 15 years of experience in entertainment marketing, Los Angeles-based Siegal-Eisman will focus on digital strategy, audience growth and fan engagement for the label’s artists. He has worked with acts like Nickelback, John Fogerty and HARDY, holding leadership roles at Artist Network Management, Crowd Surf and Big Loud Rock, among other companies. Co-founders Chief Zaruk and Simon Tikhman praised his expertise in artist development, asserting “it will be instrumental in maximizing fan engagement and artist impact.” Founded in 2019 with Live Nation, The Core Entertainment represents artists such as Bailey Zimmerman, Nickelback and Nate Smith. In 2023, it launched The Core Records with Universal Music to develop and support new talent using UMG’s global reach.
Jeremy Heffner launched Third Generation Music Group (TGMG), a new music company that includes a record label, music publishing, and artist management. With a decade of experience at Universal Music Group’s UMe division and ABKCO Music & Records, Heffner oversaw physical production, digital releases, and licensing. TGMG aims to partner with artists rather than operate as a traditional label, focusing on amplifying creative voices. The initial roster features Texas-born singer-songwriter Bennett Woolsey, indie folk/pop artist Clint., and Brooklyn-based rock band Thesaurus Rex. Heffner stated, “Our hope is to help our artists get their voices heard, aid the creative process and have the world recognize their efforts.”
Quinn Kaemmer launched communications, creative consulting and media relations firm The Quinntessential. Kaemmer previously led the communications department at Big Machine Label Group, spearheading efforts for artists including Riley Green and Jackson Dean. Prior to joining BMLG in 2022, Kaemmer rose through the ranks at BBR Music Group, working with artists including Lainey Wilson and Parmalee. –J.N.
ICYMI:
Kramer and Zimmer
David Kramer will become CEO of UTA in June, succeeding co-founder and longtime leader Jeremy Zimmer. Zimmer, who has served as CEO since 2012, will transition to a role as board member and executive chairman. Paul Wachter will continue as chairman of the board … Audacy unveiled several executive changes, appointing Kelli Turner as president and CEO, Chris Oliviero as chief business officer, and Bob Philips as chief revenue officer. [Keep Reading]
Last Week’s Turntable: Shaboozey Co-Manager Finds Home at Range
Three months after SiriusXM pivoted away from its streaming app in favor of its core in-car satellite listeners, the company further thinned its ranks on Monday (March 10) with a new round of layoffs. The cuts came primarily in the company’s product and technology group and were part of the strategic shift announced in December, according to a company spokesperson. The company did not specify the number of employees affected.
Monday’s layoffs mark the third time in as many years that SiriusXM has cut its workforce. The company also laid off 3% of its employees in February 2024 and 8% of its employees in March 2023. The company described the previous two rounds of layoffs as necessary to build its platform and invest in technology to generate growth. Satellite subscription growth has stalled in recent years, though, and the company’s effort to attract new subscribers with a lower-priced streaming app brought disappointing results.
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In December, the company returned its emphasis to satellite listening, planning to “tak[e] steps to drive profitability and cash flow as we face marketplace headwinds impacting the company’s growth trajectory,” CEO Jennifer Witz said in December. At the same time, SiriusXM named former Google and Viacom executive Wayne Thorsen as COO in charge of the company’s product and technology, corporate strategy and parts of the commercial business. Thorsen’s arrival coincided with the departure of chief product and technology officer Joseph Inzerillo.
One of the products SiriusXM is using to bring in new subscribers is a lower-cost, ad-supported satellite service that had a limited launch in 2024. “In having an ad-supported tier, it gives us a place where we can market to these individuals,” CFO Tom Barry said Tuesday (March 11) during the Deutsche Bank Media, Internet & Telecom Conference. “We can bring them up to a higher price point as they appreciate and they increase their engagement in the product.” The full roll-out is expected to happen at some point in 2025, “but it could slip,” he added.
Advertising continues to be a problem, however. As concerns build over the Trump administration’s tariffs on China, Mexico and Canada, SiriusXM started “to see a drop-off” in advertising in the last “couple of weeks,” particularly in consumer-packaged goods brands, said Barry, adding, “I would say we’re cautious about where the ad industry is going right now.”
More subscriber losses are expected in 2025. SiriusXM is reducing its marketing spending on the streaming app and will “tighten” the terms of promotional plans, Barry said, which should result in the loss of approximately 200,000 subscribers this year. That drop would follow a 4% decline in subscribers in 2024, when SiriusXM revenue fell 3% to $8.7 billion.
Welcome to the latest Executive Turntable, Billboard’s weekly compendium of promotions, hirings, exits and firings — and all things in between — across the music business. There’s a full slate of personnel news this week, so let’s get started.
John Trimble, the longtime chief advertising revenue officer of SiriusXM — and Pandora before that — announced his departure after 16 years at the satellite/digital radio giant. Reflecting on his journey, he highlighted the twists and turns of his tenure, from Pandora’s start-up phase in the late aughts to its public offering and integration into SiriusXM in 2019. “Each step was defined by the risk-takers, colleagues who were truly teammates, and teammates who became friends,” he said on LinkedIn. “We built a high quality and sustainable revenue organization that can withstand the ups, downs and twists of crazy ad markets while being an integral part of the digital audio market.” Trimble, who lasted through seven CEOs and Pandora’s acquisition by SiriusXM, said he felt the company is in good hands and that it’s “time to go chase my growing bucket list.” Trimble joined Pandora in 2009 following stints at Glam Media and Fox Interactive. His successor as CARO is Scott Walker, previously the senior vp of the SiriusXM-owned ad platform AdsWizz. In a chat with Adweek this week, Walker said he aims to expand the company’s reach and improve its measurement and attribution capabilities.
Adrian Pope is the new executive vice president of digital business and global partner relations at Virgin Music Group. Based in London, he will connect VMG with its independent clients and digital partners globally. Pope previously served as chief digital officer at [PIAS] and managing director of its distribution and services business [Integral], collaborating with top indie labels and artists. He was instrumental in integrating [Integral] into Virgin following Universal Music Group’s acquisition of [PIAS] in 2024. With over 20 years in the digital music industry, Pope’s experience includes roles at Music Week and consultancy Understanding & Solutions. JT Myers, co-CEO of Virgin Music Group, praised Pope’s contributions to both [PIAS] and [Integral]. “We know his relationships and expertise will be important in our continued growth and success around the world and are grateful to have him play a key role on Virgin’s global leadership team,” said Myers.
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Jordan Fasbender, executive vp, chief legal officer and secretary of iHeartMedia, announced this week that she’ll resign by the end of the month to take a position outside the company. According to a new SEC filing, her resignation is not due to any disagreement with the company. The NYC-based legal executive joined iHeartMedia in mid-2019 as deputy general counsel and rose to her current role in November 2024 after signing new agreement extending her role through at least 2026. She previously served as senior vp and associate general counsel at 21st Century Fox and began her career as an associate at Weil, Gotshal & Manges LLP. Fabender’s replacement has not been announced, nor has she said where she’s headed next.
BMG is merging its Sync and Production Music teams into a unified global Sync Services structure to streamline operations and enhance services for clients in TV, film, advertising, gaming and tech. As part of this restructuring, Amberly Crouse-Knox and Scott Doran have been appointed senior vice presidents of Sync Services & Partnerships. Crouse-Knox will oversee North America and Latin America from Los Angeles, while Doran will lead UK and Asia-Pacific from London. Both will report to Johannes von Schwarzkopf, BMG’s chief strategy officer, and join Allegra Willis Knerr and Caspar Kedros in the global sync leadership team. Crouse-Knox has been with BMG since 2014, playing a key role in integrating X-Ray Dog Music. Doran, who joined in 2016, previously co-owned Altitude Music. This restructuring aims to strengthen the bridge between creators and clients, matching catalog cuts with impactful opportunities.
SharpTone Records appointed Jackie Andersen as its new head of label, succeeding Shawn Keith. With over 20 years in the industry and five years at SharpTone, Andersen has played a key role in the label’s growth. Her background in artist management has helped create supportive environments for musicians. She says “our commitment to empowering artists and connecting fans with cutting-edge music remains stronger than ever.” As part of the transition, Sal Torres has been promoted to head of A&R, bringing experience from Hopeless and Fearless Records. Founded in 2016, SharpTone, under the Nuclear Blast and Believe umbrella, continues to evolve. Nuclear Blast CEO Marcus Hammer and Believe Germany’s Managing Director Thorsten Freese praised Andersen’s vision, with Freese highlighting her “vision and expertise will foster even greater synergies across our network, allowing SharpTone to capitalize on Believe’s unique distribution, and audience development capabilities and global presence.”
Jody Williams Songs (JWS) promoted Nina Jenkins Fisher to vp/general manager and Tenasie Courtright to creative director. Fisher, with JWS since its inception in 2020, has signed and managed a diverse group of writers, including developing and major label artists, writer-producers and songwriters. She also oversees the company’s partnership with Warner Chappell Music. Courtright joined JWS in 2022 as creative coordinator and was later elevated to creative manager. Under Fisher’s supervision, Courtright now plays a key role within the company. JWS represents songwriters such as Andy Austin, Ashley McBryde and Vince Gill, and is a joint venture with Warner Chappell Music. Founder Jody Williams praised Fisher’s leadership in helping her launch the company from scratch and called Courtright an “innate communicator” who “offers creative ideas and solutions like a seasoned pro.”
Lauren Kilgore joined Sony Music Nashville and Provident Entertainment as senior vp of legal and business affairs. In this role, effective immediately, she oversees legal activities for both labels and collabs with business leaders to develop and implement legal, business and operational strategies. Kilgore reports to Taylor Lindsey, chair & CEO of Sony Music Nashville, and Ken Robold, president and COO. Recognized as one of Billboard‘s top music lawyers, Kilgore has spent her entire legal career in Nashville. She most recently served as a shareholder at Buchalter, where she handled various transactional entertainment matters.
Shore Fire Media promoted Chris Brudzinski to senior vp of business affairs and Dan Mansen to business operations specialist, reflecting the company’s growth since joining the Dolphin collective of marketing companies. Brudzinski, with 26 years at Shore Fire, will continue reporting to founder/CEO Marilyn Laverty. His role has expanded since joining as office manager in 1998 to include business development, accounting and human resources. He played a key role in adapting accounting practices after Shore Fire became a Dolphin subsidiary, collaborating with Dolphin CFO Mirta Negrini and overseeing a 50% increase in staff. Mansen, who started as mailroom coordinator in 2016, advanced to assist Brudzinski and became office manager in 2022. He led return-to-office procedures post-pandemic and managed Brooklyn HQ operations. In his new role, he’ll oversee accounts payable, sales order entry, and monthly accounting closings.
Global concert promoter Peachtree Entertainment added Marty Elliott as vp of university relations, and Andrew Goldberg as vp of strategic partnerships. Elliott has over 27 years of experience in venue management, business development and booking. Goldberg has previously held roles at Danny Wimmer Presents, Live Nation and Vinik Sports Group. –Jessica Nicholson
Musicians On Call, which brings music to the bedsides of patients in health care facilities, announced 11 internal promotions. Katy Epley is now chief operating officer, Elizabeth Black is senior vp of operations, and Nicole Rivera is vp of innovation. Other promotions include PJ Cowan (director of programs), Tarah Duarte (director of corporate partnerships), Melinda LaFollette (director of PR and events), Alli Prestby (creative director), Torianne Valdez (director of artist relations), Audrey Jadwisiak (senior program manager), Lia Okenkova (senior development manager) and Sasha Arnkoff (program manager).
NASHVILLE NOTES: Rachel Whitney is taking a sabbatical from her role as Spotify‘s head of editorial in Nashville, the company confirmed … Capitol Christian Music Group senior vp of A&R Josh Bailey left the company with plans to create his own firm involving both Christian and country music … Hsquared Management expanded its team with Kimberly Hopkins, who will serve as the day-to-day manager for Provident Label Group artist Lizzie Morgan and other clients.
New music streaming platform HIO is launching with an artist-first model designed to ensure a transparent path to compensation. Unlike traditional platforms, HIO’s per-user engagement model pays artists directly based on individual listener activity. HIO is led by CEO and founder Ryder Havdale, an indie label executive and musician, who envisioned the platform as an alternative to legacy streaming services. Arthur Falls, chief marketing officer, brings expertise from DFINITY Foundation and ConsenSys, while Galen Hogg, product lead, is a music industry veteran and NFT entrepreneur. The artist outreach team includes musician Eamon McGrath and Sheila Roberts, former director of marketing for PUMA Canada. “This isn’t about unpacking what traditional streaming services do or don’t do—it’s about proving there’s a better way,” said Havdale. “We built HIO because we believe artists deserve transparency, real engagement with their fans, and a revenue model that actually works for them.”
Chrysalis Records, part of the Reservoir group, appointed Colin Rice as director of catalogue marketing. Based in London, the former Sony executive will report to James Meadows, senior vp of marketing. He’ll focus on developing marketing strategies for the label’s catalog artists in the UK and internationally, collaborating with the US marketing team. Rice previously worked at Sony Music’s commercial music group division, overseeing international marketing for artists like Jimi Hendrix, Pink, Celine Dion. His achievements include international No. 1s for Mariah Carey’s “All I Want For Christmas” and campaigns for iconic albums by Pearl Jam, the Clash and others. Rice’s career began at Sanctuary Records, followed by roles at we7/Blinkbox music and Union Square Music. Meadows and Alison Wenham of Chrysalis Records praised Rice’s extensive experience and reputation.
Sound Talent Group promoted Sarah Pederson to director of finance, overseeing all accounting and finance operations for the agency. She began her entertainment career as founder and president of Family Tree Presents in Anchorage, promoting shows for bands like 36 Crazyfists. Through this work, she connected with STG co-founder Dave Shapiro, who invited her to join STG in San Diego as controller in 2020. Pederson, a metal fan, is excited about shaping STG’s future. Shapiro added: “She has been an integral part of our growth over the last 5 years and we look forward to many more years to come.”
Key Production Group, Europe’s leading bespoke physical music and packaging manufacturing broke, launched Key Intel, a new product development division led by strategy director John Service. This expansion includes entering the Irish market with newly hired consultant Ann Marie Shields. Key Intel will manage the ideation, creation and release of new products across the company’s subsidiaries. Upcoming innovations with sustainability in mind include a multi-disc boxset series, 3D packaging and a “100 % recycled alternative to shrink wrap.”
Iron Mountain Media and Archival Services appointed Andrea Kalas as vp to lead its expanded division. With over 20 years of experience, Kalas previously worked at Paramount, where she built a valuable film archive and preserved over 2,000 films, including The Godfather. She has also held roles at DreamWorks, Discovery and the British Film Institute. A former president of the Association of Moving Image Archivists, she is a member of the Academy of Motion Picture Arts and Sciences and founded the Academy Digital Preservation Forum Initiative.
ICYMI:
Julie Greenwald
Mercury Records promoted Tyler Arnold to chairman/CEO and Ben Adelson to president/COO of the label, home to Post Malone and Noah Kahn … Street Mob Records hired veteran music executive Gustavo López as its new president … Richard Vega and Stephen Schulcz were promoted to partners in WME’s music division … and former Atlantic Music Group boss Julie Greenwald is now an executive-in-residence at the Clive Davis Institute of Recorded Music at NYU’s Tisch School. [Keep Reading]
Last Week’s Turntable: EMPIRE Hires MD of Europe
Welcome to the latest Executive Turntable, Billboard’s weekly compendium of promotions, hirings, exits and firings — and all things in between — across the music business. There’s a full slate of personnel news this week, so let’s hop to it.
Long-time listener, first-time employee Rich Baer joined SiriusXM Holdings as the satellite radio giant’s new executive vp, general counsel and secretary, effective March 3. Baer, who replaces the retiring Patrick Donnelly, boasts over 40 years of legal and business experience, most recently serving as chief legal officer at Airbnb before hanging it up in 2023. “I failed at retirement,” he joked this week. His extensive career also includes roles as chief administrative officer and chief legal officer at Liberty Media, evp and CLO at UnitedHealth Group, and general counsel at Qwest Communications. Baer began his legal career as a homicide prosecutor in Brooklyn before leading the litigation department at a Denver law firm. He’ll report to SiriusXM CEO Jennifer Witz, who highlighted Baer’s background in counseling complex companies and said “his ability to navigate legal issues and balance the needs of a business will enable him to succeed here.” Witz also honored outgoing GC Patrick Donnelly, recognizing his nearly 27 years of dedicated service.
Partisan Records hired Nick Wagner as the indie label’s new chief financial officer, effective late last year. Based in NYC and reporting to president and co-founder Tim Putnam, Wagner will oversee global financial operations, strategic planning, team management and growth initiatives at Partisan, home to PJ Harvey, IDLES and more. Wagner brings extensive experience from his previous role as global vp of business operations at Endeavor, where he improved operational efficiency across the company’s portfolio. He also served as vp of finance at Warner Music Group, focusing on artist-driven growth in digital and social media. Additionally, Wagner led the North America Digital Media division at Vice Media Group, managing finance and operations for brands like Noisey and Vice.com.
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Sony Music Nashville has promoted Mallory Michaels to vice president of radio marketing & promotion. In the new role, Michaels will develop and implement strategic and tactical national radio promotion plans for rostered artists at Sony Music Nashville, supporting both Columbia Nashville and RCA Nashville imprints. Michaels will report to senior vp, radio marketing & promotion Dennis Reese. Michaels joined SMN in 2018 and previously held roles at Warner Music Nashville and Red Bow Records. –Jessica Nicholson
Mike Faul / Courtesy Photo
Dynamic Talent International appointed veteran marketer Mike Faul to lead its newly launched Brand Partnerships division. Based in New York, Faul will spearhead efforts to connect creative talent with top brands across industries like fashion, technology, luxury, lifestyle and media. The division will focus on sponsorship acquisition, co-branded content creation and immersive experiential activations, aiming to craft bespoke campaigns that amplify both brand identities and artistic expression. Faul brings extensive experience to the role, having worked with major names like YouTube, MTV, A24, The North Face and Taco Bell. In 2017, he founded Sub Rosa Curation, driving innovative marketing initiatives across sports and entertainment. Prior to that, he served as marketing manager at Bagavagabonds, curating festival programming for brands like Vans, Toyota and Anheuser-Busch. DTI, a leading talent management firm with offices in Sacramento, Los Angeles, Nashville, New York and Poland, is known for its forward-thinking approach in supporting artists. The firm recently celebrated Taemin’s sold-out show at the Kia Forum and announced new signings, including The Georgia Satellites and Hot 8 Brass Band. “This is an exciting opportunity to bolster what is already one of the most dynamic agencies in entertainment,” said Faul.
Legends appointed Chris Bray as president of Europe for its combined Legends and ASM Global business. Bray will oversee operations across the UK and Europe, managing venue operations and revenue generation for sports, entertainment, conventions and other industries out of the company’s office in Manchester. Previously president of Europe for ASM Global, Bray brings over 30 years of experience in commercial operations and development. Since joining ASM Global in 2022, he has driven growth, enhanced guest experiences, and sealed key contracts with venues like Utilita Arena and Olympia London. Bray also oversaw significant investments in venues, including a major glow-up for AO Arena in Manchester. Before ASM Global, he spent 15 years at Sodexo, where he boosted the firm’s Sports and Leisure division. Following Legends’ acquisition of ASM Global in August 2024, the combined company includes iconic venues like AO Arena and major football clubs such as Arsenal and Liverpool. Legends CEO Dan Levy praised Bray’s leadership, adding, “With a strong presence across the UK and Europe … we’re in an incredible position to set new standards in sports and entertainment.”
Sony Music Publishing promoted Taryn Miller to vice president, IT global copyright and royalties, effective immediately. Based in Nashville, Miller will report to chief information officer Bill Starke. In her new role, she’ll oversee the development and management of SMP’s royalty and copyright systems, including the Tempo platform and client portal SCORE, while collaborating across departments on enterprise applications. With over 20 years at the company, Miller has been instrumental in advancing key systems like Tempo and SCORE. She began her career in North American Royalty Administration before becoming a Tempo migration specialist and later transitioning to the IT team, most recently serving as director, IT global administration systems. Starke praised Miller’s contributions, stating “her work has elevated our services for songwriters.”
Creative Artists Agency promoted five Elevate trainees to agent roles across its music, comedy and theatre departments. In the Music Touring group, Ethan Goldish, based in Nashville, was elevated after joining CAA in 2019 and progressing from floater to booking professional in 2022. Also in Nashville, Cam Jensen was promoted after starting as an assistant in 2022, later becoming a booking professional overseeing the Southeast club territory. In Los Angeles, Dom Valentyn was promoted to Music Touring Agent, having joined CAA in 2019 and previously working in artist management and playlist marketing. In the Comedy Touring department, Marissa Pisterzi in Los Angeles was promoted after starting at CAA in 2021, working with several agents before becoming a booking professional. In New York City, Kennedy Woodard was promoted to Agent in the Theatre department. She joined CAA in 2021 as an assistant to Justin Edbrooke and Ethan Kurtzman, and has worked closely with theatre pros to develop stage and screen projects. All five promotions reflect CAA’s commitment to nurturing talent through its Elevate program, which identifies and advances rising professionals within the agency.
Kobalt appointed Claes Uggla as general manager of Kobalt Scandinavia, overseeing operations from the Stockholm office. With over 25 years of A&R experience, Uggla has shaped the careers of many Scandinavian artists. He joins from RMV, where he worked with acts like Gustaf & Viktor Norén. Previously, at Universal Music Sweden, he licensed hits like Lukas Graham’s “Ordinary Things,” and at Sony Music Sweden, he earned a special A&R award for Alan Walker’s “Faded.” Jeannette Perez, Kobalt’s president, praised Uggla’s track record, saying his “approach to A&R, his deep connections to the creative community and his leadership skills will be an important asset to us as we continue to build upon our success in the region.”
Range Music elevated Jared Cotter to managing partner of the management company, the music division of Range Media Partners. Cotter, who joined Range in 2022 and co-manages Shaboozey, made partner last May and before that was vp of A&R for the company. Outside the Hot 100 juggernaut that is Shaboozey, Cotter manages Paul Russell, whose “Lil Boo Thang” reached No. 14 in 2023. Cotter came to Range after co-founding The Heavy Group in 2016, a management and production company where he first signed Bazzi several years ago. He also co-founded 3AM Entertainment, an indie label focusing on music from the South Asian diaspora.
Celine Hollenbeck and Jenna Akemi Kon are named partners at Carroll Guido Groffman Cohen Bar & Karalian LLP, a leading music and entertainment law firm. Hollenbeck, based in Los Angeles, and Kon, in New York, joined the firm in 2017 and 2018, respectively. Founding partner Michael Guido and Los Angeles managing partner Renee Karalian praised their dedication and industry acumen, adding that their “enthusiasm and passion for music and artistry continue to impress the firm’s clients and partners alike.” They join the firm’s growing partner group, including Paul Gutman, Ira Friedman, Leah Seymour and Dave Keady.
BOARD SHORTS: Grammy Museum Mississippi added three new members to its board: Betsy Aguzzi of Mississippi Limestone Corporation, music publicist and entrepreneur Zach Farnum, and artist manager Gaines Sturdivant. They’ve been elected to 3-year terms, starting last month. The board is responsible for governance, oversight and major decision-making at the Cleveland, Miss. museum … VPL, which licenses music videos for public and TV broadcasts in the UK, made key board appointments: Charlotte Saxe is now VPL chair, with Alison Wenham and Shamus Damani joining as new board directors. The VPL Board, consisting of eight directors, oversees all aspects of music video licensing operations for the PPL sister company.
The Country Music Hall of Fame and Museum promoted five staff members to key leadership roles. Tess Pardee is now associate director of creative project management, overseeing creative projects and resources. Marshell Ruffier has been named associate director of food and beverage operations, managing the banquet team, the museum café, and sustainability initiatives. Alex Krompic has been promoted to director of production and technical services, leading audio, video and lighting for events. Emily Zirkle is now associate director of events administration and entertainment, managing revenue and public events in the CMA Theater. John Sloboda has been promoted to executive director of exhibitions and curatorial services, overseeing gallery exhibitions.
Red Street Records promoted Kelly King to vp of Red Street Publishing, while Patrick Waters joins as senior director of A&R country for the company’s country roster, which includes Chris Lane, Ryan Griffin, Neon Union, Ryan Larkins and Kaleb Sanders. King, known for discovering and/or developing artists and writers including Rascal Flatts, Brett James and Brothers Osborne, earned a partnership at Teracel Music and Good Girl Music (a co-venture with Sony Publishing), before launching her own King Pen Music (a co-venture with Warner Chappell Publishing) prior to joining Red Street Records in 2022. Waters has previously held roles at Red Light Management, Warner Brothers and Interscope. –J.N.
NASHVILLE NOTES: Gotee Records appointed Jess Loper as its new general manager. Reporting to Joey Elwood, CEO of Bell Partners Christian Music, Loper steps into this role following Gotee’s integration under Bell Partners. Previously, she was vp of brand management at Gotee Records and publishing at Emack Music … The International Bluegrass Music Association made three staff changes. Rebecca Bauer joins as marketing director after working as a marketing manager for City Winery; Elizabeth Dewey was promoted to communications director from administrative manager; and Haley Grimm, who’s in her final semester at Belmont University, took over Dewey’s former position … Publicist Jessica Nall joined Jonesworks, where her country clients include Zac Brown Band, Drake Milligan and Adam Doleac. She formerly was Atlantic director of press and media strategy … Paquin Artists Agency, a booking firm focused on Canadian country acts, hired agent/talent buyer Paul Biro, formerly president/operating partner at Sakamoto.
Killphonic Rights launched a dedicated label division, led by CEO Caleb Shreve and co-head of A&R Syd Butler. This follows the company’s executive expansion and a $3 million investment from Stilwell Creative Capital in 2024. The label’s first release, Heart Of Gold: The Songs of Neil Young, is set for April 25. Butler emphasized the label’s “artist-first” approach, highlighting the team’s industry experience and commitment to artist development. He stressed the importance of community and fair profit sharing, aiming to provide essential support at a time in the industry when it’s being abandoned. We believe artists need a community and a label that has their back as they navigate their future in this business.”
ATC Live has two key staffing updates. Lucy Atkinson joins as a new agent from Earth Agency, bringing her 30-strong roster, including Sega Bodega, Alice Glass and Erika de Casier, to boost the live booking agency’s electronic music prowess. Known for her forward-leaning approach, Atkinson has secured high-profile brand collaborations, such as Deijuvhs for Versace Jeans Couture and Ecco2k with Bella Hadid for Marc Jacobs eyewear, among others. Additionally, Alice Hogg was promoted to head of tour marketing, a new role aimed at integrating tour marketing services within ATC Live. This move will strengthen the London-based company’s approach to live campaigns, focusing on cohesive fan engagement and marketing strategies. Hogg, who joined ATC Live in 2020, has 15 years of experience in the live music industry and has worked with artists like Black Pumas and Aaron Frazer. Her roster will continue to be represented by ATC Live.
Raw Power Management, which like ATC Live is part of the ATC Group, bumped-up Dan Brown to the newly created role of head of A&R. A key figure on the senior management team for over a decade, Brown is currently managing You Me At Six’s farewell tour. In his new position, he will lead talent acquisition, focusing on expanding Raw Power’s diverse roster and signing new acts. The company represents artists like Bring Me The Horizon, Bullet For My Valentine, Jordan Adetunji and Heartworms.
ICYMI:
Jodi Dawes
REPUBLIC Collective announced a big stack of promotions across various departments … Warner Chappell Music elevated Gabz Landman to senior vp of A&R … Fox veteran Nick Terranova joined Dick Clark Productions as its new senior vp of brand partnerships … Ole Obermann is out as TikTok’s global head of music business development … Publicity pro Jodi Dawes landed at Big Machine Label Group … and AEG Presents elevated Andrew Klein to lead its global partnerships division. [Keep Reading]
Last Week’s Turntable: Syracuse Grads Band Together for New Advisory Board
SiriusXM reported revenue from subscribers fell by nearly 4%, while ad revenue held flat for the full year in 2024, as the satellite radio company’s nascent streaming app failed to jump-start its subscribers as hoped.
The company generated $8.7 billion in revenue and adjusted EBITDA of $2.73 billion last year, representing declines of 3% and 2% respectively from 2023 figures. Subscriber revenue declines were the biggest contributing factor to the ho-hum year, but it was partially offset by the company lowering costs by cutting marketing, business expenses and staff.
“At the end of 2024, we took significant steps to refocus on SiriusXM’s core strengths and enhance operational efficiency,” Sirius Chief Executive Officer Jennifer Witz said in a statement. “By prioritizing our core in-car subscription business, leveraging our streaming capabilities, and growing our leadership in ad-supported audio, we are well-positioned to deliver long-term value. Looking ahead, we are energized by the opportunities to build on this strategy and continue offering unparalleled audio experiences through our platforms.”
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SiriusXM announced in December that was shifting marketing and other resources away from the streaming app it launche in Dec. 2023 to prioritize its subscribers who pay to listen to its music, sports and news radio and podcasts in vehicles.
Sirius is the dominant provider of audio entertainment subscriptions in vehicles in the U.S. but concerns over softening subscriber revenue and an eagerness to attract more younger subscribers pushed the launch of a streaming app last December.
The company met its 2024 financial targets–adjusted EBITDA of $2.73 billion and a margin of 31%–but its executives were peppered by questions about disappointing advertising revenue and internal guidance that 2025 will see sharper declines in adjusted EBITDA than they saw in 2024.
The company has a complicated business model, part of which hinges on customers choosing to start paying for their service after first trying a free trial subscription. Witz told analysts on their earnings call they expect to stabilize conversion rates this year for certain product lines like its 360L, a new premium in-vehicle audio platform with more channels. That said, she advised the number of net new subscribers in 2025 is again expected to decline.
The company said it is expecting $8.5 billion in total revenue in 2025, with $1.15 billion in free cash flow and $2.6 billion in adjusted EBITDA.
Here are the main take-aways from SiriusXM’s fourth quarter and annual earnings report:
The SiriusXM segment of the overall company–which doesn’t include Pandora–reported 2024 revenue of $6.6 billion, down 4% from 2023. The decline was driven by lower susbcriber, equipment and other revenue and a smaller average base of self-pay subscribers.
Average revenue per user in 2024 of $15.21 fell 35 cents from the prior year because of declining ad revenue, lower rates the company gets paid from automakers to offer promotional plans in their cars, and more people subscribing only for the streaming app, which has a lower price than the in-car subscription.
SiriusXM self-pay subscribers fell by 296,000 in 2024. The company had 33 million total subscribers as of Dec. 31, 2024.
SiriusXM gross profit totaled $3.9 billion in 2024, 6% lower than 2023, but with a gross margin of 60%, roughly flat from 2023.
Pandora and Off-platform self-pay subscribers decreased by 101,000 in the fourth quarter to end the year at 5.8 million in total.
Pandora and off-platform revenue totaled $2.15 billion in 2024, up 2% from 2023, helped by increased revenues from subscribers, advertising, podcasting and programmatic sales.
Alex Cooper is expanding her broadcasting duties even further in 2025, with SiriusXM announcing new exclusive programming as part of a multi-year agreement with the world’s most-listened-to female podcaster.
Beginning on Feb. 11, Cooper – the host and executive producer of the Call Her Daddy podcast – will give SiriusXM subscribers the chance to get closer to her and the Unwell Network with two new channels and live shows.
The first of these, Unwell Music, is curated by Cooper and is presented as a mixtape featuring the songs that have scored her life. Broadcasting contemporary hits alongside nostalgic pop anthems, Unwell Music will feature names such as Miley Cyrus, Tate McRae, Sabrina Carpenter, Beyoncé, Gracie Abrams and more. Alongside its eclectic playlist, the music will also be complemented by personal commentary from Cooper and behind-the-scenes stories.
The second of these channels, Unwell On Air, is designed to deliver a “live and curated pulse on what’s trending now”. In addition to highlights from the Unwell Network’s podcasts, it will also feature live daily programming that puts their Daddy Gang fanbase as the center of the conversation.
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This live programming includes Dialled In, which sees hosts Rachel Friedman and Montaine taking calls from listeners about relationship problems, friendship drama, and more. Dialled In airs from Monday to Friday at 7pm ET (4pm PT).
The programming also features The Daily Dirty, which sees hosts Sequoia Holmes, Fiona Shea and Hannah Kosh providing an hour-long catch-up focusing on pop culture-focused sharp takes, candid conversations, and playful segments. The Daily Dirty airs from Monday to Friday at 6pm ET (3pm PT).
“I’m constantly trying to find new ways to interact with my audience and with Unwell Music and Unwell On Air I’m able to deliver brand new daily live shows and playlists curated specifically by me,” said Cooper in a statement. “I can’t wait for everyone to experience a whole new world of Unwell.”
“Alex Cooper and her Unwell brand continue to be at the vanguard of pop culture with their authentic and unfiltered approach,” said Scott Greenstein, President, and Chief Content Officer at SiriusXM. “With the launch of Unwell Music and Unwell On Air, Alex is creating something that is only possible through the power of SiriusXM: a live 24/7 audio destination for her fans to immerse themselves further into her world. We can’t wait for you to hear what she has in store.”
Cooper first rose to fame with the Call Her Daddy in 2018, which was swiftly acquired by Barstool Sports shortly after its launch. In 2021, Spotify took ownership thanks to a $60M deal before it found a new home with SiriusXM in August 2024. The multi-year agreement provides SiriusXM with exclusive advertising and distribution rights, content, events, and more for both the Call Her Daddy podcast and the other titles on the Unwell Network – the production house Cooper founded in 2023.
Manuela Ferradas has joined SiriusXM in a senior management role, Billboard can confirm. Based out of the company’s Miami Beach studios, Ferradas will oversee the Latin artist and industry relations team for SiriusXM and Pandora. According to a press release, Ferradas will “secure talent and deliver marketing plans to external partners for various SiriusXM and Pandora opportunities […]
A year ago, SiriusXM launched a new streaming app filled with original and licensed content from its satellite radio service and set the price at $9.99 — far below the roughly $16 average monthly revenue it takes in per satellite subscriber. The hope was that a relatively affordable price and an improved app would help SiriusXM reach younger consumers and expand beyond its core in-car satellite radio listeners.
The new app was “just the beginning,” CEO Jennifer Witz said at the time, adding that SiriusXM would “continue to iterate and develop our product offerings throughout the next year and beyond as we strive to deliver our subscribers the best listening experience on the go, in the car, and wherever they choose to tune in.” The company’s satellite radio business was built on vehicles. If you buy a new or used car, you’ll likely get a free SiriusXM trial that’s extremely effective at convincing people to subscribe once their trial is over. The new streaming app was intended to attract people who would listen outside of the car.
But selling the radio experience in a smartphone app didn’t go well. As it turns out, the streaming app hasn’t produced a good return on marketing spending, Witz said on Tuesday (Dec. 10). Appearing at the UBS Global Media and Communications Conference, the executive cited “slow progress” in turning free trials into long-term retention. As a result, SiriusXM has already cut back its marketing spend on the app and expects to have fewer streaming trials — and thus fewer subscribers — in the future. That was a worse assessment than what Witz delivered on SiriusXM’s Aug. 2 earnings call. At that time, when asked about conversion rates for the app, Witz said they had been “challenged” but maintained positivity, adding that there had been some “positive results” with first-time trial adopters and that the company was “confident” it could attract “a different audience” that will be “incremental” to the existing car-based business.
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Now, after its underwhelming experiment with the app, SiriusXM will, in Witz’s words, be “leaning into our strengths.” In other words, the company is putting its focus back on satellite radio and the in-automobile listening experience. In alignment with that strategy, the company also announced the departure of Joseph Inzerillo, the chief product and technology officer who played an instrumental role in the app’s launch.
For all the strengths of the app — curated stations, celebrity musician stations, a smorgasbord of audio programming — the company gave up its competitive advantage when it tried to compete outside of satellite radio and the automobile. After all, the company is the lone satellite radio operator and, given the cost and complexity of launching satellites into orbit, has the market to itself. But when leaving the safety of satellite, it’s hard to beat Spotify, Apple Music, YouTube and Amazon Music at their own game. These are streaming-native platforms built for consumers’ desire for interactivity, while SiriusXM’s app attempts to fit a one-way satellite radio experience into a two-way, interactive medium. In the end, paid radio turned out to be a tough sell to a generation that has grown up on on-demand streaming.
So, SiriusXM is going to focus on what it does best, and in-car listening gives the company a huge audience to work with. It currently has 33 million subscribers and, according to MusicWatch’s Russ Crupnick, reaches 65 million total listeners. In an email to Billboard, radio consultant Andy Meadows said he believes “SiriusXM is better suited to compete for those coveted in-car listeners so [Tuesday’s announcement] makes sense from that standpoint.” Crupnick also sees in-car listening as a point of strength for SiriusXM, pointing to the uniqueness of the SiriusXM product as a distinct advantage. “The ease of use, breadth of content, and curation position them as far superior to terrestrial radio, and in a different place than music streaming or podcasts,” he says.
Building on in-car satellite listening, the SiriusXM streaming app will become more of a complementary product. “There is real opportunity with 360L,” said Witz on Tuesday, referring to the company’s in-car platform that serves as a dual satellite radio/streaming product. Because 360L includes streaming, it allows SiriusXM to serve personalized — a.k.a. more lucrative — ads and provide more targeted — a.k.a. more expensive — ads for advertisers. Of the app, she said it can provide data that helps SiriusXM determine spends on programming that resonates with listeners, given that satellite receivers are a one-way technology that doesn’t provide granular insights into listening behaviors. Similar to 360L, the app can also provide targeted advertisements.
For customers, bundling satellite and streaming costs as low as $25 per month. That’s about double the cost of an individual Spotify subscription, but SiriusXM subscribers can withstand the price. According to Witz, platinum satellite subscriptions, which cost upward of $29 per month, account for “about a third” of the current subscriber base. And providing the best of satellite and streaming will help SiriusXM compete with a “newer breed of streaming products” on Americans’ car dashes, says Meadows. “Anything SiriusXM, and traditional radio for that matter, can do to look, sound and function better across all devices is in their best interest long term.”
Nearly one year after launching a new streaming app, SiriusXM Holdings announced on Tuesday it is moving away from streaming and doubling down on the people who pay for its music, news and podcasts in cars.
Sirius has become the dominant provider of audio entertainment subscriptions in vehicles in the recent years in the U.S. but concerns over softening subscriber revenue and an eagerness to attract more younger subscribers pushed the launch of a streaming app last December.
While their $9.99 subscription for streaming on your phone will still be available, the company will focus resources on keeping and selling more services to the 33 million people with SiriusXM subscriptions—90% of whom listen in their cars.
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“We are focusing on … our strong core subscriber base, our unique position in vehicle, and our unrivaled, curated content — and taking steps to drive profitability and cash flow as we face marketplace headwinds impacting the company’s growth trajectory,” SiriusXM chief executive Jennifer Witz said in a statement.
SiriusXM’s stock price was down more than 10% at $25.81 just before 1 p.m. in New York. Witz is expected to speak about the new strategy at an investor conference later on Tuesday.
Streaming, which is already sold as a companion to the in-car subscription for $24.98, will be considered a “companion” offering, the company said, through partnerships with companies like Tesla. But it is shifting “marketing and other resources away from high-cost, high-churn audiences in streaming to focus resources on core revenue-generating segments.”
The company also named Wayne Thorsen the company’s chief operating officer in charge of product & technology, corporate strategy and parts of the commercial business. Thorson is charged with tracking “the return on marketing and technology investments.” A former Google and Viacom executive, Thorsen previously oversaw product management, engineering and business development for home security company ADT. Thorsen’s appointment coincides with the departure of chief product and technology officer Joseph Inzerillo, who played a pivotal role in modernizing SiriusXM’s technology platform and launching the streaming app.
SiriusXM invested two years and millions of dollars into updating its technology and developing the streaming app, which it unveiled last December, along with a new logo. The new app came with new channels run by John Mayer, Kelly Clarkson, Shaggy and Smokey Robinson, as well as a weekly show by James Corden and a new true-crime channel from Crime Junkies podcast host Ashley Flowers.
The company’s investments in podcasting and new technology has driven years of belt-tightening and at least two rounds of layoffs, which resulted in around 650 jobs being cut in 2023 and 2024. Having cut costs by $200 million this year and $150 million in 2023, executives said Tuesday they are aiming to achieve an additional $200 million in cost savings next year.
During its most recent quarterly earnings, SiriusXM lowered its 2024 revenue goal to $8.675 billion from $8.75 billion due to lower subscriber revenue and softer-than-projected advertising revenue in the second half of this year.
The company reported gaining 14,000 self-pay subscribers in the third quarter this year. However, subscriber revenue was down to $1.645 billion in the third quarter 2024 from $1.729 billion during the third quarter 2023.
SiriusXM reaches around 150 million listeners through SiriusXM, Pandora and its growing podcast service.
John Mayer is launching a new interview series, “How’s Life,” on his Life With John Mayer channel on SiriusXM and he’s kicking it off in style. The debut of the interview series in which Mayer will speak to some of the music industry’s biggest names will feature an in-depth sit-down with Billy Joel premiering at 8 p.m. ET on Thursday (Nov. 28).
Not only does Joel, 75, chop it up with Mayer about some of his career highlights and biggest songs, but he also discusses a never-before-heard tune from his archives.
In a preview clip (see below), Mayer talks to Joel about songwriting, with the Piano Man answering the host’s probing question about where the songwriter goes when he stops writing new songs; in February, Joel released his first new song in 17 years, “Turn the Lights Back On.”
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“Where does the writer go… is the writer present when you’re listening to new music, do you listen as a writer?” Mayer asks Joel. “Do you go, ‘oh, you’re gonna put a minor fourth there? Are you really gonna put a minor fourth chord?’ Do you think like a writer still even if you’re not writing?”
“Yeah, he never goes away,” says Joel. “The writer thing is a curse that you take with you throughout life. And when I listen to material, or listen to other people’s songs the writer is always at work. ‘Well, I would have done it this way.’ Or, ‘why did he go to that chord?’ And constantly trying to improve on what you did.”
Joel describes how as a young writer you don’t edit yourself as much, but as you mature you get better at it, until you get so proficient that “you’e gotten good enough so that nothing is good enough.”
Mayer’s most important question — especially for Joel fans who are constantly saying their prayers to the pop gods that the singer will get back to writing radio-friendly songs — was whether Joel ever writes lyrics or lyric ideas on his phone. “I never write down lyrics until I’m actually songwriting,” Joel says. “I start from the music first, always.” The only exception? His very wordy 1989 class “We Didn’t Start the Fire.”
Mayer will be on air all day on Thanksgiving, beginning at 2 p.m. ET, when he will start taking calla and playing music in the lead-up to the Joel chat. Future guests on the show include Shawn Mendes and Maren Morris. Mayer’s year-round SiriusXM channel Life With John Mayer can be found on Ch. 14. or anytime on the SiriusXM app.
Watch a preview of “How’s Life” with Billy Joel below.