The company will also move its marketing and other resources away from “high-cost, high-churn audiences in streaming."

Satellite audio firm SiriusXM is aiming to trim costs by $200 million in 2025 as it shifts away from streaming and refocuses on its core automotive market. The news, announced in a press release, follows efforts in 2023 and 2024 to achieve about $350 million in cost savings.

Shares of Sirius XM Holdings Inc., the online radio service that’s home to shock jock Howard Stern, fell as much as 9.8% after the company issued a 2025 revenue forecast that fell short of Wall Street estimates and said it will undertake a new cost-cutting drive.

SiriusXM has outlined a new strategic plan that will include $200 million in cost cuts and pivoting resources away from streaming. "At SiriusXM, we are focusing on the strengths that set us apart - including our strong core subscriber base,