Satellite audio firm SiriusXM is aiming to trim costs by $200 million in 2025 as it shifts away from streaming and refocuses on its core automotive market. The news, announced in a press release, follows efforts in 2023 and 2024 to achieve about $350 million in cost savings.

The company will also move its marketing and other resources away from “high-cost, high-churn audiences in streaming."

The satellite and online radio provider's chief product and technology officer Joseph Inzerillo is also stepping down

SiriusXM has released an updated strategic plan. We hear about "marketplace headwinds," and learn that streaming is demoted as a business priority. Continue Reading →

Shares of Sirius XM Holdings Inc., the online radio service that’s home to shock jock Howard Stern, fell as much as 9.8% after the company issued a 2025 revenue forecast that fell short of Wall Street estimates and said it will undertake a new cost-cutting drive.