Audio entertainment giant SiriusXM is disciplined in its content spending, but willing to pay for attractive programming, CEO Jim Meyer said during a virtual investor conference on Tuesday.
Appearing at the virtual Goldman Sachs Communacopia Conference, he was asked about the firm's roughly $460 million content spend in 2019, or 6 percent of revenue, in addition to $1.7 billion in music royalties.
Meyer said programming costs have risen a bit, and it was "reasonable to say that is what I continue" to see going forward. "We are very disciplined here," the SiriusXM CEO said, but emphasized: "If we see compelling content … a piece of content that can significantly drive either retention or acquisition, we are going to get it." Asked what would.
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