Sirius XM Holdings Inc. (NASDAQ:SIRI) Announces Live Broadcast Of Daytona 500 Speed Race

Sirius XM Holdings Inc. (NASDAQ:SIRI) has announced it will be the official broadcast partner of NASCAR and will give it listeners deep coverage of the event including the live broadcast of the actual race. This will be the 57th running of the Daytona 500, a legendary piece in the NASCAR race circuit. The company will also feature live in-car broadcasting allowing subscriber to hear all the in-race chatter between drivers and their pit crews.

Analyst predict major swings in the market… will it affect SIRI?

Live Broadcast

The broadcast will start at 7am EST and will be an all-day event. Subscribers will get the total package and be entertained with events at the track, interviews and a bevy of other items. The actual race starts at 1pm EST. The broadcast will feature Siri’s Driver2Crew Chatter channels carrying in-car audio from the drivers as they participate in the race. This will offer fans a unique perspective not often enjoyed by those outside the actual race team members.

The drivers to mic’ed up include legends and former winners, Dale Earnhardt Jr., Jeff Gordon, Tony Stewart and Jimmie Johnson. Sirius XM Holdings Inc. (NASDAQ:SIRI) also added the broadcast of a smaller regional race, the Budweiser Duel. That’s a 150-mile race that works as a qualifier for drivers to get into the larger events like the Daytona 500.

Great Exposure

Specialty events are an important way for the company to separate itself from traditional radio stations. NASCAR is a massively popular sport. Because it also involves cars that plays to SIRI’s strengths as Sirius XM Holdings Inc. (NASDAQ:SIRI) is dependent on subscriptions and a large bulk comes from its contracts with car producers. Ford is a company that SIRI is contracted with and they also happen to be a sponsor also. This creates a synergy between the two companies that can help SIRI gain new subscribers.

Technicals

The stock has broken off its base and is making a run at higher levels. It is quickly approaching its 52-weekhigh and should it break through that there is no resistance. Some technical base building would be healthy at this level.

About the Author

Stinson is US Markets Daily’s Senior Producer for News & Public Affairs.

Leave A Response