SiriusXM has laid off more employees, following a previous round of job cuts that affected around 100 staff members in January. The satellite radio company is undergoing significant changes as it shifts its focus toward in-vehicle users and advertising-supported listening, which aligns with its ‘free access’ strategy.

Since its spin-off from Liberty Media in September 2024, SiriusXM has faced declining revenues and subscriber losses, with a net drop of 296,000 subscribers last year, bringing its total to 33 million.

At the Deutsche Bank Media conference on March 11, SiriusXM CFO Tom Barry emphasized the growing importance of ad-supported services, stating that having an ad-supported tier allows the company to engage listeners and potentially convert them into paying subscribers. However, he also acknowledged concerns about declining advertising revenue, which accounted for 20 percent of the company’s earnings last year. The slowdown in ad sales could pose challenges for SiriusXM as it navigates this transition.