SiriusXM Moved Pandora to Profitability via ‘Cost Efficiencies’ 9 Months in, Says CEO 

SiriusXM is “now easily available in the home and on the go on a growing number of connected CE devices,” said CEO Jim Meyer on a Q3 call Thursday: “Subscriber growth" contributions "from these areas are small today but have plenty of room to grow.” SiriusXM programming is coming to Google Assistant devices (see report, Oct. 31). SiriusXM “moved very quickly” since buying the streaming service in February (see 1901300019), said Meyer. “We have moved the business to profitability through cost efficiencies, and we are continuing to make strides in monetization.” Advertising-supported Pandora listening hours fell 7.5 percent from a year earlier, “an improvement from declines of 9.6 percent" in Q2 and Q1's 11.2 percent, said Meyer. “We have a lot of heavy lifting ahead.” SiriusXM close up 3.9 percent at $6.72.