Published by MBA Skool Team, Last Updated: April 12, 2020
SWOT analysis of Sirius analyses the brand by its strengths, weaknesses, opportunities & threats. In Sirius SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like Sirius to benchmark its business & performance as compared to the competitors. Sirius is one of the leading brands in the media & entertainment sector.
The article below lists the Sirius SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Sirius SWOT Analysis:
For Sirius, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.
The strengths of Sirius looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of Sirius :
1. It holds the title of world’s largest radio broadcaster by revenue and is one of the largest pure-play audio entertainment companies
2. Second largest media company in the US by number of paid customers, 22.3 million
3. It has monopoly over the premium Radio channel space in US 4. Sirius offers multi-channel access to its premium radio service through hardware, internet and mobile
5. Operates in US and Canada employing approx. 1500 people
6. Its operations have led to increasing profits and margins reflecting the efficient management and sound decision making of Sirius Radio
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the Sirius SWOT Analysis:
1. Much of its revenue is dependent on the automakers as they provide bundled service of Sirius in their new or leased cars 2. Even after merger Sirius and XM still operate separately leading to confusion amongst the consumers 3. Cost cutting in advertising after merger of Sirius and XM
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in Sirius SWOT Analysis:
1. Rapid expansion and positive outlook for digital radio services in the US 2. It has in recent times been offering exclusive programs for Hispanic population who form a substantial part of the population 3. Increase in Spanish radio channel offerings will help in attracting and consolidating existing market for Hispanic population
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of Sirius are as mentioned:
1. Intense competition from rivals’ especially online radio channels like Pandora 2. Cases of piracy and copyright issues from the music industry are high 3. Regulatory troubles and changes in US communication policy could adversely impact the company’s services and its financial condition
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Sirius:
1. Pandora Inc. 2. ClearChannel Inc. 3. Westwood One, Inc.
Wide variety of genres, 24 hours, commercial-free and uncensored
Music, sports, news and entertainment radio audience
Premium customers who can subscribe to its channels
As a premium pay-for-service radio
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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