Yahoo Finance Sirius XM (SIRI) Extends Broadcasting Agreement With NHL
Sirius XM SIRI announced that it extended the broadcasting agreement with National Hockey League (NHL) for the 2028-29 NHL season. This will allow its subscribers to continue getting access to every NHL game through the 2028-29 season in their cars and also on the SXM App.
The SXM App brings in 32 NHL team channels for fans to tune in to, with each channel dedicated to individual NHL teams. This exclusive feature helps it gain traction as it makes it easy for fans to find and listen to their favorite team’s announcers for every game.
SiriusXM brings additional coverage for the ongoing 2023 NHL tournament as it will produce and air the exclusive national audio broadcast of the 2023 Honda NHL All-Star Game on Feb 2- 4. The coverage includes interviews with renowned players and coaches conducted by Scott Laughlin, as well as a live broadcast of the NHL All-Star Skills presented by DraftKings DKNG this year.
Sirius XM to Boost Subscribers With Exciting Sports Content
Beside hockey, football is another cherished sport by Americans. Thus, to cater to this, Sirius XM extended its National Football League (NFL) agreement last year as the exclusive third-party audio broadcaster of every NFL game for another five years.
The ongoing NFL brings additional content on the SXM App that provides fans with pre- and post-game shows for each game and also offers a specific channel for every NFL team.
In addition to this, Sirius XM is providing its football fans access to 45 games this college football post-season, including the College Football Playoff Semifinals and National Championship.
Sports are an integral part of every American household and thus enhancing sports content would be an effective strategy to appeal to new subscribers and grow its retention rates. In the third quarter of fiscal 2022, Sirius XM had 34.17 million subscribers, down from 34.27 million in the year-ago quarter. Thus, it is expected that these agreements could revive subscriber growth at Sirius XM, which can help aid revenues.
Additionally, this would help the company to offset revenues from advertising, which are projected to be stagnant for the coming quarters due to the slowdown in ad markets.
Sirius XM Holdings Inc. Price and Consensus
Sirius XM Holdings Inc. price-consensus-chart | Sirius XM Holdings Inc. Quote
Shares of Sirius XM have declined 2% in the past year compared with the Zacks Consumer Discretionary sector's fall of 24.2%.
Zack Rank & Stocks to Consider
Sirius XM currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks in the same sector are Royal Caribbean Cruise RCL and Nexstar Media Group NXST, with a Zacks Rank #2 (Buy) and a Zacks Rank #1 (Strong Buy), respectively.
Shares of Royal Caribbean fell 21.4% in the past year. The Zacks Consensus Estimate for earnings is pegged at a loss of $1.34, which increased 0.7% over the past 30 days.
Shares of Nexstar Media gained 12.3% in the past year. The Zacks Consensus Estimate for earnings is pegged at $7.57, which has been unchanged over the past 30 days.
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Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report
Sirius XM Holdings Inc. (SIRI) : Free Stock Analysis Report
Nexstar Media Group, Inc (NXST) : Free Stock Analysis Report
DraftKings Inc. (DKNG) : Free Stock Analysis Report
