SiriusXM’s Essential Debut in Keeping With Strategy to Build Base Outside Car

“SiriusXM. No Car Required” is the promotional tagline for the rollout of the $8 monthly Essential 300-channel streaming subscription plan, available now through a 90-day trial for $1, it said Monday. Essential’s $8 fee is about half that of SiriusXM’s step-up Premier package, which includes Howard Stern's two full-time audio channels, plus Howard Video and NBA, NHL and NCAA programming, it said. Essential’s launch is in keeping with SiriusXM CEO Jim Meyer's long-running strategy to build a broader subscription base outside the car. In addition to smartphones for people on the go, he sees smart speakers “as a great way to distribute our service in home” (see 1901300019). “Stay tuned for more content and more functionality” on smart speakers, he said in January. Its debut earlier this month of Pandora Now as a SiriusXM channel and Pandora interactive station and playlist was the first cross-platform initiative since SiriusXM completed its $3.5 billion all-stock Pandora buyout Feb. 1 (see 1904040024). SiriusXM reports Q2 earnings Wednesday.