Market Overview

SiriusXM is Now Standard on All BMW Vehicles Starting with 2021 Model Year

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NEW YORK, Oct. 14, 2020 /PRNewswire/ -- SiriusXM announced today that its audio entertainment service is now a standard feature in all BMW models sold in the United States beginning with model year 2021.  BMW owners will also receive a 12-month subscription to SiriusXM's top tier All Access package with the purchase or lease of a new vehicle.

The standard availability of SiriusXM is part of a new agreement between SiriusXM and the BMW Group that extends the relationship between the companies through the 2026 calendar year. Additionally, as part of this agreement, SiriusXM becomes a standard feature in all Rolls Royce models and BMW Motorcycles, and will be standard in MINI vehicles starting with the 2022 model year.

Additionally, many new 2021 BMW models also feature SiriusXM with 360L, SiriusXM's most advanced audio entertainment platform, including the 2 Series Gran Coupe, 3 Series, 4 Series, 5 Series, 8 Series, X3, X4, X5, X6, X7 and Z4 Roadsters.  SiriusXM with 360L combines satellite and streaming content delivery into a single in-vehicle entertainment experience, upgrading the way the subscriber interacts with the service by providing more choice, a more personalized user experience, and access to thousands of hours of on demand content in the vehicle.  For more on SiriusXM with 360L in BMWs click here.

"In-vehicle technology and entertainment have become as important to BMW drivers as the performance and handling of their new automobiles," said Monika D. Reimel, Head of BMW Aftersales Business Development. "BMW was one of the first manufacturers to offer SiriusXM in our automobiles (2002) and today we are excited to not only include SiriusXM as a standard feature in all of our 2021 models but also combine it with one of the longest initial subscription periods (1-year) in the industry. This new agreement with SiriusXM offers immediate benefits to our enthusiastic customers."

"BMW delivers their customers a premium experience every time out on the road. We're very proud that SiriusXM has been a popular feature of that in-vehicle experience dating back to the earliest days of satellite radio in 2002," said Rodney Pickett, SVP, Automotive Partnerships, for SiriusXM. "Today we are truly excited that our relationship continues to grow, as we announce that SiriusXM will be standard on all BMW Group vehicles, ensuring all of their customers can enjoy our premium programming content for many years to come."

The All Access subscription that BMW owners and lessees receive provides SiriusXM's full lineup of varied programming, plus access to SiriusXM outside their vehicle on the SiriusXM app and on connected devices and speakers in their home.  For more on all the programming that SiriusXM offers, and all the ways you can listen, go to www.SiriusXM.com.  

BMW Group In America

BMW of North America, LLC has been present in the United States since 1975.  Rolls-Royce Motor Cars NA, LLC began distributing vehicles in 2003.  The BMW Group in the United States has grown to include marketing, sales, and financial service organizations for the BMW brand of motor vehicles, including motorcycles, the MINI brand, and Rolls-Royce Motor Cars; Designworks, a strategic design consultancy based in California; technology offices in Silicon Valley and Chicago, and various other operations throughout the country.  BMW Manufacturing Co., LLC in South Carolina is the BMW Group global center of competence for BMW X models and manufactures the X3, X4, X5, X6 and X7 Sports Activity Vehicles. The BMW Group sales organization is represented in the U.S. through networks of 349 BMW passenger car and BMW Sports Activity Vehicle centers, 146 BMW motorcycle retailers, 117 MINI passenger car dealers, and 38 Rolls-Royce Motor Car dealers.  BMW (US) Holding Corp., the BMW Group's sales headquarters for North America, is located in Woodcliff Lake, New Jersey.

About SiriusXM

Sirius XM Holdings Inc. (NASDAQ:SIRI) is the leading audio entertainment company in the U.S., and the premier programmer and platform for subscription and digital advertising-supported audio products. Pandora, a subsidiary of SiriusXM, is the largest ad-supported audio entertainment streaming service in the U.S. SiriusXM and Pandora together reach more than 100 million people each month with their audio products. SiriusXM, through Sirius XM Canada Holdings, Inc., also offers satellite radio and audio entertainment in Canada. In addition to its audio entertainment businesses, SiriusXM offers connected vehicle services to automakers. For more about SiriusXM, please go to: www.siriusxm.com.

This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "believe," "intend," "plan," "projection," "outlook" or words of similar meaning. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements.

The following factors, among others, could cause actual results and the timing of events to differ materially from the anticipated results or other expectations expressed in the forward-looking statements:  the current coronavirus (COVID-19) pandemic is adversely impacting our business; our substantial competition that is likely to increase over time; our efforts to attract and retain subscribers and listeners, or convert listeners into subscribers, which may not be successful, and may adversely affect our business; our Pandora ad-supported business has suffered a loss of monthly active users, which may adversely affect our Pandora business; privacy and data security laws and regulations may hinder our ability to market our services, sell advertising and impose legal liabilities; we engage in extensive marketing efforts and the continued effectiveness of those efforts are an important part of our business; consumer protection laws and our failure to comply with them could damage our business; a substantial number of our Sirius XM subscribers periodically cancel their subscriptions and we cannot predict how successful we will be at retaining customers; our ability to profitably attract and retain subscribers to our Sirius XM service as our marketing efforts reach more price-sensitive consumers is uncertain; our failure to convince advertisers of the benefits of our Pandora ad-supported service could harm our business; if we are unable to maintain revenue growth from our advertising products, particularly in mobile advertising, our results of operations will be adversely affected; if we fail to accurately predict and play music, comedy or other content that our Pandora listeners enjoy, we may fail to retain existing and attract new listeners; if we fail to protect the security of personal information about our customers, we could be subject to costly government enforcement actions and private litigation and our reputation could suffer; interruption or failure of our information technology and communications systems could impair the delivery of our service and harm our business; we rely on third parties for the operation of our business, and the failure of third parties to perform could adversely affect our business; our business depends in part upon the auto industry; our Pandora business depends in part upon consumer electronics manufacturers; the market for music rights is changing and is subject to significant uncertainties; our ability to offer interactive features in our Pandora services depends upon maintaining licenses with copyright owners; the rates we must pay for "mechanical rights" to use musical works on our Pandora service have increased substantially and these new rates may adversely affect our business; failure of our satellites would significantly damage our business; our Sirius XM service may experience harmful interference from wireless operations; failure to comply with FCC requirements could damage our business; economic conditions, including advertising budgets and discretionary spending, may adversely affect our business and operating results; if we are unable to attract and retain qualified personnel, our business could be harmed; we may not realize the benefits of acquisitions or other strategic investments and initiatives, including the acquisition of Pandora; our use of pre-1972 sound recordings on our Pandora service could result in additional costs; we may from time to time modify our business plan, and these changes could adversely affect us and our financial condition; we have a significant amount of indebtedness, and our debt contains certain covenants that restrict our operations; our facilities could be damaged by natural catastrophes or terrorist activities; the unfavorable outcome of pending or future litigation could have an adverse impact on our operations and financial condition; failure to protect our intellectual property or actions by third parties to enforce their intellectual property rights could substantially harm our business and operating results; some of our services and technologies may use "open source" software, which may restrict how we use or distribute our services or require that we release the source code subject to those licenses; rapid technological and industry changes and new entrants could adversely impact our services; existing or future laws and regulations could harm our business; we may be exposed to liabilities that other entertainment service providers would not customarily be subject to; our business and prospects depend on the strength of our brands; we are a "controlled company" within the meaning of the NASDAQ listing rules and, as a result, qualify for, and rely on, exemptions from certain corporate governance requirements; while we currently pay a quarterly cash dividend to holders of our common stock, we may change our dividend policy at any time; and our principal stockholder has significant influence, including over actions requiring stockholder approval, and its interests may differ from the interests of other holders of our common stock. Additional factors that could cause our results to differ materially from those described in the forward-looking statements can be found in our Annual Report on Form 10-K for the year ended December 31, 2019 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, which are filed with the Securities and Exchange Commission (the "SEC") and available at the SEC's Internet site (http://www.sec.gov). The information set forth herein speaks only as of the date hereof, and we disclaim any intention or obligation to update any forward looking statements as a result of developments occurring after the date of this communication.

Source: SiriusXM

Media contacts:
Andrew FitzPatrick, Andrew.FitzPatrick@SiriusXM.com
Kevin Bruns, Kevin.Bruns@SiriusXM.com

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/siriusxm-is-now-standard-on-all-bmw-vehicles-starting-with-2021-model-year-301152307.html

SOURCE Sirius XM Holdings Inc.

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