After a week that saw Liberty Media, which has a 64% stake in Sirius, reportedly make an offer for Pandora, it was inevitable that SiriusXM CEO Jim Meyer was asked about that possibility. His first response to an analyst question was, “Go ask Liberty. CEO Greg Maffei can certainly answer that question.” Meyer went on to say that he’s been very, very clear. “We look at everything hard, and you should assume we know an awful lot about Pandora and every other streaming company.” Meyer had much more to say…
He said SiriusXM is a very different company than it was three or four years ago. “We have the resources to deal with streaming.” He went on to praise former Slacker CEO Jim Cady who now runs the SiriusXM streaming division. “We don’t need to acquire anyone to further our streaming vision.” Meyer went on to say that research shows that when listeners leave SiriusXM, they are going back to AM/FM radio. “What we play around with here is the fact that radio is a $25 billion business. We are $5 billion and the other $20 billion goes to a free service. We look at should we continue to try to get a bigger piece of that pie. We don’t need to make an acquisition of a streaming company.”
Meyer says streaming is a transport not competition. It’s not going to be either/or. “This stuff will co-exist together. We’re going to combine the best of both worlds. In the end, I don’t care how they (consumers) listen. I just care that they listen and the pay. How they do it does not matter to me.”
Meyer did go on to say that he believes Pandora has the best chance of being profitable out of all the streamers.