SiriusXM

North America's largest audio entertainment company by subscriber count, and a major audio advertising platform through SiriusXM Media and AdsWizz

Sirius XM Holdings Inc. is North America's leading audio entertainment company, operating the SiriusXM satellite and streaming radio service and Pandora, one of the largest internet radio and music streaming platforms in the United States. The company reaches tens of millions of subscribers and listeners across satellite radio, connected vehicles, and digital streaming, offering music, sports, news, talk, comedy, and exclusive podcast content. SiriusXM completed a major corporate restructuring in 2024 when Liberty Media merged its tracking stock structure and renamed itself Sirius XM Holdings, consolidating the previously separate Liberty SiriusXM tracking stock with the operating company. On the advertising side, SiriusXM operates SiriusXM Media, a significant audio advertising business that sells inventory across the SiriusXM and Pandora platforms as well as a broad network of third-party podcast and streaming audio publishers. The company also owns AdsWizz, an ad technology platform that provides programmatic audio advertising infrastructure including ad serving, targeting, and measurement tools used by publishers and advertisers across the digital audio ecosystem. Together, SiriusXM Media and AdsWizz make the company one of the most important players in audio advertising technology. SiriusXM's dual revenue model combines subscription fees from its satellite and streaming services with advertising revenue from Pandora's free tier and its broader media network. The company competes with Spotify, Apple Music, Amazon Music, and iHeartMedia for listeners and advertising dollars, while AdsWizz competes in the ad tech space against companies like Triton Digital. SiriusXM's unique position in in-car entertainment, its exclusive content deals, and its end-to-end audio ad tech stack represent core competitive advantages in the evolving audio media landscape.