Sirius XM Holdings has experienced a steep stock drop of over 58% in 2024, alongside a loss of subscribers and revenue. In response, Warren Buffett's Berkshire Hathaway has increased its stake to 33.2%, signaling a potential belief in a future turnaround. Sirius has suggested a lower revenue outlook for 2025 but aims for increased cash flow alongside significant cost cuts. The company plans to concentrate on its primary automotive customer base, abandoning less successful attempts to target smartphone-only listeners, as it re-evaluates its marketing strategies for sustained growth.
Sirius is refocusing on its core automotive customer, implementing cost cuts, and presenting a cautious 2025 outlook to regain traction after a tumultuous 2024.
Despite a drop in subscribers and revenue, Berkshire Hathaway's investment indicates confidence in a potential turnaround for Sirius XM in the upcoming year.
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