The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Sebastiano Carmine Petti - JPMorgan Chase & Co, Research Division - Analyst
: Congratulations Jennifer in the new role and Jim good luck to you as you move on to the next stage of your career, not quite out to pasture, as you
said. But just to -- just thinking through some of the extensions that you talked about in the quarter, whether it be BMW, GM, but also 360L, there's
a penetration rate 80% next quarter, though, above that longer term. You touched on your revised 2020 self-pay net add guide, not too far off the
90% of where you started at the beginning of the year. With the penetration rate rising, perhaps some pickup in churn is vehicle-related churn,
continues as -- depending upon the economic activity. But putting it all together, I mean, as penetration goes higher, perhaps the economy stays
-- doesn't go into a double dip here, how should we think about 2021 self-pay net adds? What are the different pieces that probably add up to
where 2021 can shake out relative to where 2020 and 2019 levels came in?
Question: Sebastiano Carmine Petti - JPMorgan Chase & Co, Research Division - Analyst
: I think secondly, Jennifer, you spent some time on the digital audio assets, which Sirius has compiled, whether it be with Pandora and AdsWizz as
well as the Stitcher and Simplecast acquisitions. Recent conferences, you talked about getting that business up to about $2 billion over the next
several years or 20% of the larger overall business. What are the biggest pieces to get that model? What needs to kind of go right or where you see
as the maybe low-hanging fruit over the next several years here?
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