Current subscribers will be encouraged to switch to the SXM app
(Bloomberg) — Sirius XM Holdings Inc., the satellite radio and audio company owned by Liberty Media Corp., plans to shut down its Stitcher podcast app on August 29 in an effort to move subscribers over to its flagship SXM app, according to an internal memo reviewed by Bloomberg.
“The scale and reach of our widely-distributed podcasts has been and remains a crucial accelerant for our advertising sales business, while incorporating podcasts more holistically into our flagship SiriusXM subscription service will help to drive further growth,” wrote Joe Inzerillo, chief product and technology officer, John Trimble, chief advertising revenue officer, and Scott Greenstein, chief content officer.
Stitcher, which included content networks, launched over a decade ago. In 2020, SiriusXM acquired it from the E.W. Scripps Company for $325 million. Over time, the Stitcher app became both a podcast listening destination and a service through which paying subscribers received access to bonus and ad-free content. As of March 2023, according to Comscore, Stitcher’s app and website had a combined 900,000 unique visitors.
Current premium members are being offered six free months of the SXM app’s streaming platinum tier, which typically costs $10.99 per month and provides access to SiriusXM stations and podcasts. The memo stated that SiriusXM plans to launch an updated streaming solution this fall. Unlike Stitcher, podcasts on the new streaming service will include advertising.
The effort to consolidate two of its streaming products into one flagship app lines up with SiriusXM’s broader challenge of growing subscribers for its core business, satellite radio, while also increasing its podcast ad sales. Users who do not move over to SXM will still be able to access SiriusXM’s stable of owned and licensed podcasts — including those from Conan O’Brien, Crooked Media and Ashley Flowers — in all other podcast apps.
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.