Sirius XM snags former Disney+ exec as its new head of product and technology – TechCrunch
Sirius XM, home to the satellite radio business and streaming music app Pandora, is bringing on a new head of product and technology, as the company plans to expand its focus beyond the car to better compete with streaming rivals, like Spotify. The company this morning announced its hiring of former MLB and Disney exec Joseph Inzerillo as its new chief product and technology officer. He will begin his new role on January 10, 2022.
Jim Cady, Sirius XM’s chief innovation officer, who has been serving as interim head of Product Development, will be retiring after eight years with the company. He will work with Inzerillo through February 2022 during the transition.
Prior to joining the audio entertainment company, Inzerillo was an executive vice president and chief technology officer for Disney’s streaming arm, where he helped to oversee all aspects of that business, including the streaming, commerce, platform development and globalization plans for Disney+, ESPN+, Star+ and Hulu. Inzerillo first joined Disney in 2017 with its acquisition of BAMTech Media, where he had served as EVP and chief technology officer.
Previously, Inzerillo had been CTO for Major League Baseball, including its flagship media companies MLB Advanced Media and MLB Network. In this role, he launched MLB.tv, the first over-the-top sports offering, “instant replay” and wireless connectivity in all 30 ballparks, and shaped MLB’s digital business. This ultimately led to the spinoff of its streaming technology platform, BAMTech Media, which he helped found.
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While not necessarily a household name, the BAMTech platform has powered big names in streaming, including HBO Now, WWE Network, Eurosport Player, Fox Sports and the NHL.
At Sirius XM, the exec will be tasked with helping oversee the company’s Information Technology and Broadcast Infrasture and the team that builds and operates those platforms. In total, he will lead a team of 1,500+ engineers and product professionals across Sirius XM, Pandora and Stitcher. He will also be in charge of Sirius XM’s product roadmap, satellite infrastructure and its overall technology vision and innovation, and will report directly to Sirius XM CEO Jennifer Witz.
The hire is a big win for Sirius XM, which has been struggling to compete with Spotify and others in terms of consumer interest. Though the company delivered on its last earnings, its stock has lost 3% of its value over the last five years versus a 120% gain in Spotify during the same time, for example. In its most recent quarter, Sirius XM reported year-over-year revenue growth of 9% to reach $2.2 billion in its third quarter and a record 616,000 net new self-pay Sirius XM subscribers to its satellite radio business. At the end of Q3, Sirius XM had 34.1 million total subscribers, down from 34.3 million in the same quarter last year, but projected that by Q4, this year will be its biggest yet on subscriber growth since 2018.
Still, much of Sirius XM’s business is reliant on automaker partnerships and preinstalls, and catered to a workforce that spent a lot of time commuting to and from the office. The pandemic has …….
