Yesterday SiriusXM launched their new personalized streaming platform MySXM, a streaming option available to its subscribers for an add-on fee. The service features 50 channels that can be adjusted using “slider bars” to suit the listener’s personalized tastes. It’s described as more interactive than Pandora, with on-demand features that go beyond what Pandora offers. Backend music intelligence platform The Echo Nest provides the service with its personalization, and Omniphone provides cloud based services.
Make no mistake, SiriusXM is still a satellite company, and this new offering is all about protecting its subscriber base. With an estimated 120 million folks in the US listening online in the past month, streaming is the fastest growing radio platform. Offering that as an option is a way to preserve its subscriber base.
According to year end reports, SiriusXM had close to 24 million subscribers at the end of last year, while Pandora has 200 million subscribers, 70 million of whom are actively monthly users. SiriusXM does not provide information other than subscribers.