Sirius XM Holdings Inc


SKU: SIRI Category:


This is our first report on broadcasting giant, Sirius XM Holdings. The company reported strong first-quarter growth in subscription and advertising revenue, as well as strong cash flow generation. Both SiriusXM and Pandora have shown a decent performance. At SiriusXM, the time spent listening to SiriusXM is growing noticeably faster than its subscriber base due to the consumption of its distinctive content via streaming. The company recently acquired Team Coco, including the Conan O’Brien Needs a Friend’s hit podcast, and the Conan O’Brien-led podcast system and digital media company to create content for its satellite radio network’s roster of well-known podcasts. Among key updates, they also announced a multi-year extension to their partnership with Formula 1, which will keep providing nationwide coverage of all F1 races to SiriusXM listeners through 2024. Pandora continues to face its fair share of challenges lagging behind giants like Apple Music and Spotify despite the growing subscriber base. We initiate coverage on Sirius XM Holdings with a ‘Hold’ rating.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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