Like how should we think about the cadence of ARPU from here this year as well as what would the longer-term impacts be from any of the newer auto deals since we saw some of the promo numbers increase here? Hey, great. As you know, it is a big part of our funnel, but we have seen used car trial starts did increase in Q1 versus Q4, which sets us up well. And our first question is from the line of James Ratcliffe with Evercore ISI. Or is there anything different that you can talk to at this point? And I think, ultimately, ARPU as well because we can deliver even more content and features to our subscribers. However, to meet evolving consumer expectations, particularly with younger audience segments, we must address barriers, such as pricing, control, and content discovery. And then relatedly, I was just wondering if you could speak to whats going on in the used car market? How sizable of a trial acquisition funnel you think that could become over the next few years, and maybe how you see that fitting into the broader digital strategy later this year. Sirius XM isn't trading at its lowest levels since early 2016 -- despite kicking off the year with a record 32.4 million self-pay subscribers and churn near its historical lows -- by accident. The satellite radio giant will carry every single pick live from Kansas City. Thank you. But SiriusXM has their own ad-revenue on those news shows. Thanks, David. And while that growth will continue, its actually come down to more normalized level at this point and get the competitive challenges we have are easily solved with 360L and the new platform that were launching. Kellys new hit, Lets Talk Off Camera is first released widely as a podcast, but also airs on Radio Andy. By. The Motley Fool has a disclosure policy. We extended agreements with the NHL and NASCAR ensuring continued access for our subscribers for years to come. Thanks, Matt. Witz noted however that their financial metrics exceeded their expectations for the year, and it was enough for the company to raise its financial guidance for full-year earnings from $2.7 billion to approximately $2.75 billion. Our next question is coming from the line of Stephen Laszczyk with Goldman Sachs. So your commentary on the intent to buy and the improving funnel sounds constructive. Our ad supported portfolio from Pandora to the Sirius XM podcast network, which also includes two of the largest Hispanic podcast networks with Pattaya and reVolver offers opportunities for advertisers to reach large and diverse audiences in audio. Podcasting ad revenue was up 34% year over year in the quarter, and that's due to the great content relationships we have on the representation side, our ability to bring brands into podcasting. We ended the quarter with a leverage at 3.4 times, which is within our targeted range of low to mid threes. WebSiriusXM delivers a broad range of information directly to your cars navigation system. Im truly excited about this opportunity and to join the conversation with investors and analysts and meet many of you in the coming weeks. Steven Cahall -- Wells Fargo Securities -- Analyst. And is it really the downward pressure weve seen over the last few years had a lot to do with the dramatic increase we saw in pen rates over that time period. Thanks. Were in about I think its about a third of our new car trial starts have 360L currently that will increase to about 40% by the end of the year. In fact, that's why Sling is our top pick for watching Newsmax TV without cable. Sirius XM Sirius XM reports first-quarter results on Thursday morning. Delete Presets on Sirius Radio Pandoras ad hours were 2.59 billion, declined just 4% year-over-year as hours per active users climbed 4.5% with 21 hours per month. And, Sean, best of luck in your new opportunity. The Motley Fool has no position in any of the stocks mentioned. First, Sean, good luck. What Channel is Newsmax on Sirius XM Radio? - hamtronics.com In many ways, Sirius XM Holdings(SIRI 2.70%) is an edgy rock band that has gone mainstream. Were looking at opportunities Podcast And Satellite Radio Businesses Will Be More Closely Aligned, SiriusXM CEO Says. That's due to the great content relationships, we have, on the representation side, and our ability to bring brands into podcasting, Witz said. Pleasure working with you and good luck on the next gig, keep them in the fairway. Thank you. On the used car market, just to start with that, the used car sales were actually pretty strong in the first couple of months of the year. Stephen Laszczyk -- Goldman Sachs -- Analyst. And I believe that is a very strong proof point for what we can continue to drive and see when we launch this new platform that is going to support 360L, but also drive cross listening in and out of the car and provide much more personalized listening experiences. Great. Could you give us a little bit of color on sort of the puts and takes there? Most sports fans already know and love Fubo TV. Siriusxm Satellite Radio https://buff.ly/41pw0RC . Seasonality in advertising revenue and the strategic cost-saving measures should deliver ramping EBITDA in the second, third, and fourth quarter. Read our full review of Fubo TV and visit our TV guide to Fubo TV to find out what you can watch right now. SiriusXM I would like to remind everyone that certain statements made during the call might be forward-looking statements as the term is defined in the Private Securities Litigation Reform Act of 1995. Well, were still very strongly positioned with churn at just over 1.6%. Sirius XM So I think you were saying on the last quarter call that you weren't formally guiding for a number for subs for this year. SiriusXM also launched Team Coco Radio in November to leverage the podcasts that the Conan OBrien-led production studio creates. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Supporting this, first quarter vehicle trial starts were up 7% overall compared to the fourth quarter, including a 3% rebound in new vehicle trials and an 11% rebound in used vehicle trials. But positioning for the future, we have had a long history since we launched of annual average increases in ARPU of about 3%. Here youve come in and youve updated financial guidance. I just saw a stat the other day that we watch quite frequently about intent to buy and its at one of the highest levels weve seen over the last couple of years. Thanks everybody for participating today. Were investing in our future. Newsmax is going to be moving into other audio opportunities, Lee Kinberg, CEO of Newsmax Radio, said. The change in royalties was driven by the expiration of the discounted rates on pre-1972 music as of the end of 2022 and a CRB announced 9% CPI inflater on webcasting performance rights. Our ad-supported portfolio from Pandora to the SiriusXM Podcast Network, which also includes two of the largest Hispanic podcast networks with Pitaya and reVolver offers opportunities for advertisers to reach large and diverse audiences in audio. Over the next few years, 360L will continue to expand across OEMs, including on select Mercedes-Benz models as part of an agreement that will increase the installation of SiriusXM to make it a standard feature on all Mercedes-Benz models available in the United States. WebComplete replay of the nationally syndicated talk radio show "The Rob Carson Show" by Newsmax Radio. Listen to Live callers vent their frustrations with the corrupt career politicians on Capitol Hill, hilarious music political parodies from Jim Gossett, and above all, DON'T CATCH THE STUPID!!! Read our full review of Sling and visit our TV guide to Sling to find out what you can watch right now. But we are well-positioned to make sure that our incorporation sustains through whatever model the OEMs choose to pursue. Im glad you extended your tenure in the media industry here and to Tom, congratulations. James Ratcliffe -- Evercore ISI -- Analyst. Published: April 25, 2023. Thanks Matt. Let's get into the best options for everyone. So younger generations in particular are looking for more opportunities to control the listening experience. People find our way to our door and we consider a lot of factors before we make any decisions. Thank you. I mean, the economy, we just had a soft GDP number, a couple of minutes ago. The Howard Stern Show will air live May 13 from the SiriusXM Miami studios, where Stern will be joined on-air by various music and celebrity guests. Thank you for taking the question. This new experience will emphasize simplicity and elegance provide more control and discoverability and drive greater consistency between in-car and streaming experiences better catering to our subscribers as they increasingly listen across devices. It allows us like many other services to update much more frequently our feature set. And podcasting continues to be a bright spot. This contributed to the expected negative subscriber growth in the quarter. Learn more about Sling plans and pricing. But we are well positioned to make sure that our incorporation sustains through whatever model the OEMs choose to pursue. Satellite Radio And please let me add my welcome to Tom Berry, who may be new to this call, but is a veteran of Sirius XM and its finance organization since 2009. With that, Ill hand the call over to Jennifer. Despite its lack of ESPN, the service offers almost every league, including NFL, NBA, MLB, NHL, and more. There are things worse than single-digit revenue growth. For more information about those risks and uncertainties, please view Sirius XMs SEC filings and todays earnings release. Listen Page - Newsmax Broadcasting Inc We do expect to see future quarter-over-quarter progress in self-pay net adds but we still anticipate being modestly negative for the full year in aggregate. The satellite radio provider has sold out now. And we are starting to see that already in some of our numbers. At the intersection of the two, our programmatic podcast sales doubled year over year, albeit off a small base, and contributed to overall podcast ad revenue growth of 34%. The Rob Carson Show Podcast. Seasonality in advertising revenue in these strategic cost saving measures should deliver ramping EBITDA in the second, third and fourth quarter. Given the strong engagement we continue to see with our extra channels in and out of the car, in the first quarter, we expanded our focus here and launched several new Hip Hop and R&B channels. We help resolve pain points facing marketers by using greater automation and making buying more efficient. Gross profit in the SiriusXM segment declined 5% to $1.02 billion, representing a margin of 61%, down slightly from 2022 due to higher royalties. It had 34 million subscribers as of March 31. Tom, take it away. So I think the impact of OEM prepaid revenue should slowdown in terms of how its flowing through ARPU over time. Podcasting continues to be a bright spot, Witz said. Thank you. And we are seeing even better conversion rates among younger trialers who have 360L relative to older generations, and particularly our core audiences who know our service and are used to navigating it. In short, I am pleased with our financial performance this quarter and Im confident in our opportunity to expand our subscriber base as auto sales recover, and we launched the next generation Sirius XM experience later this year. I'm focused on in the early days is a lot of what you'll see in raising our guidance in some of the other areas is we're investing a lot of time in our cost structure and ensuring that our spending and our cost optimization is headed the right direction with it in an effective manner.