SiriusXM Announces $200M Cost Cuts and Strategic Shift to Automotive Market

The company is moving away from high-churn streaming audiences to focus on its in-car subscriber base, which represents 90% of its users.

SiriusXM plans to cut $200 million in annual costs by the end of 2025, following $350 million in savings achieved over the past two years.
The company is shifting its strategic focus back to its automotive subscriber base, where the majority of its users engage with the service.
Marketing resources will be redirected from streaming audiences to core automotive subscribers to improve retention and growth within this segment.
Joseph Inzerillo, Chief Product and Technology Officer, has departed the company, while Wayne Thorsen has been appointed as the new Chief Operating Officer.
SiriusXM's updated 2025 revenue forecast of $8.5 billion falls below Wall Street expectations, causing a 10% drop in its stock price.