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SiriusXM to Shut Down Stitcher App in Revamp of Its Podcast Business

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The satellite broadcaster will migrate Stitcher users to the SiriusXM app in an attempt to draw more subscribers to the service.

“With the Stitcher team now fully integrated into SiriusXM, we have united our strengths to create the SiriusXM Podcast Network, one of the largest podcast advertising networks in the country,” the memo continues. “We are also helping new and existing partners to do more within podcasts, taking what Midroll did exceptionally well and supercharging it with the combined power of SXM Media and AdsWizz.”as senior vp in charge of podcast, comedy and entertainment programming.

Following the news, shares of SiriusXM rose as much as 10.5% to $4.32, its highest mark since reaching $4.33 on March 6. As of Monday’s closing price of $3.91, SiriusXM’s share price had fallen 33% year to date. In February, the company

 

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