SiriusXM CEO: 'The Connected Car Is Coming'

Jim Meyer

During Thursday's earning conference call with analysts, CEO Jim Meyer said SiriusXM remains on track to do approximately $ 100 million of revenue in their connected vehicle business this year and expects business  to double over a three-year timeframe with strong double-digit annual growth in revenue.

Meyer stated, "The newly enlarged connected vehicle business at Sirius XM also have strengthen our push to win more business as several large OEMs remain uncommitted to a connected vehicle provider. The connected car is coming, and that’s a fact. We are moving our entire organization to capitalize on this opportunity from our investments in the CV business to the improvements we are planning in our core audio service. We see tremendous value in delivering a service that combines the best features of satellite broadcast and IP connectivity."

According to Meyer, their connected vehicle business is still in very early stages, but development work is a critical part of building both offensive and defensive capabilities.

Meyer also told analysts, "You know, what really sets us apart from all of our competitors is our great content. In programming, I’ve never been more excited about what we are doing here at Sirius XM across sports, talk and music. Creating and broadcasting unrivalled content is the core of our business and vital to attracting new subscribers and keeping existing ones."