Warren Buffett’s Berkshire Hathaway has increased its stake in Sirius XM to 32%, worth around $3 billion, showing confidence in the audio and entertainment platform despite its struggles against streaming competition like Spotify. While Sirius XM’s subscriber numbers have decreased, the company is making efforts to pivot towards podcast deals as the future of talk radio.
However, the company has high debt and its revenue has been declining, negatively impacting profit margins. Sirius XM stock is currently not a recommended investment, as its growth prospects are diminishing.