Sirius XM (NASDAQ: SIRI) has been changing the way we listened to the radio since the early days when satellite radio first debuted in 2002. The idea of streaming radio through satellites instead of using radio waves was a big game changer for the world of radio at the time.
Sirius XM's business model of being a subscription-based music service was a huge culture shift at a time before subscription services like Netflix (NASDAQ: NFLX), Spotify, and Hulu were the standard for content consumption. Sirius XM took another huge gamble investing half a billion dollars in Howard Stern to bring an audience to their new platform back in 2006. Sirius XM expanded its reach again that year with the addition of Sirius Internet Radio, being available worldwide on the internet to any of its subscribers with a valid username and password to existing radio subscriptions.
