– All about audio. On this year’s Fortune 500, there were nine new companies led by women. As discussed in yesterday’s newsletter, most of those companies joined the ranks of women-led Fortune 500 businesses after promoting women from within to the top job—with one exception (sort of).
SiriusXM is part of the Fortune 500 for the first time after spinning off from Liberty Media in September 2024. That adds SiriusXM CEO Jennifer Witz to the cohort of Fortune 500 chiefs; like her fellow female CEOs, she was promoted to the job in 2021 after two decades at the company (starting when it was still just Sirius).
I dove into the state of the $8.7 billion company today in a feature published in the latest issue of Fortune. The company is quietly much more interesting than it seems at first glance—it involves everything from radio and talent management, to satellite launches into space, negotiations with auto manufacturers, and even a small business line offering boaters fishing and weather info. The company was revolutionary when it debuted in the very early 2000s, promising uninterrupted radio service without FCC regulation. But it was quickly outpaced by the streaming era; satellite technology offers no data on listeners, making it near-impossible to keep up with algorithmic personalized recommendations.
Under Witz, SiriusXM has grown its podcasting business, with advertising now making up 20% of its revenue to subscriptions’ 80%; it handles advertising for two-thirds of all podcasts in the U.S. Stars like Alex Cooper and Crime Junkie’s Ashley Flowers draw headlines.
But it’s up against some tough long-term trends, from quarterly subscriber losses, to an aging user base, to even the rise of self-driving cars—where passengers could one day watch video, not just listen to audio.
Witz has refocused SiriusXM on the car, where it’s strongest—and has eyes on the living room as a place where SiriusXM could grow. Read more about the new Fortune 500 company, its CEO, and the challenges ahead in my feature story here.
Emma Hinchliffe
emma.hinchliffe@fortune.com
The Most Powerful Women Daily newsletter is Fortune’s daily briefing for and about the women leading the business world. Today’s edition was curated by Nina Ajemian. Subscribe here.
ALSO IN THE HEADLINES
- Auction again. Anne Wojcicki, 23andMe’s cofounder and former CEO, is looking for court approval to reopen an auction for the company after her bid was bested by Regeneron Pharmaceuticals’ $256 million offer. Wojcicki says a Fortune 500 company with a market cap of over $400 billion is backing her. Fast Company
- Cheaper competition. Investor and former Morgan Stanley analyst Mary Meeker says U.S. AI companies like OpenAI face real competition from rivals producing cheaper models, like DeepSeek. Meeker said advances in AI technology will produce “multiple companies worth $10 trillion and they probably will not all be based in North America.” Financial Times
- Shiny new deal. Jewelry brand Trove, founded by designer Hannah Ward and backed by Away cofounder Jen Rubio, acquired Camille Zarsky’s the Seven, a boutique specializing in jewelry curation. “We kept returning to the idea that there’s space for something more personal and boundary-pushing in fine jewelry, so this partnership happened very naturally,” says Rubio. WWD
- Out the gate. Female MBA graduates are earning almost $10,000 less than men with MBAs in their first jobs post-grad, says new research. And the pay gap only widens—the average woman with an MBA earns 17% less than her male peers, which is a difference of $36,000. Fortune
MOVERS AND SHAKERS
Latus Bio, a gene therapy biotech, appointed Ainslie Little as COO and Katie Hewitt as interim CBO. Previously, Little was SVP of corporate strategy and operations at BlueRock Therapeutics. Hewitt is the founder and CEO of BioVenture Advisors.
Seismic Therapeutic, an immunology therapies biotech, appointed Sophie Jones as CFO. Jones was most recently a managing director in healthcare investment banking at J.P. Morgan.
Alight, which provides an employee benefits solution, named Donna Dorsey CHRO. Most recently, she was EVP, chief people and culture officer at International Motors.
Orchid Security, an identity security platform, named Tal Herman chief product officer. Previously, she was VP of product - identity, governance, and privileged access at Okta.
U.S. Urology Partners appointed Kiersten O’Hara as chief people officer. Previously, she was VP of people operations for the company.
ON MY RADAR
She built a cult baby formula business. Then RFK Jr. came calling New York Times
The author whose books are snapped up by Netflix, Hulu, and Prime is out with a space novel Wall Street Journal
Inside Michele Kang’s plan to revolutionize women’s soccer: ‘Not some corporate DEI project’ Forbes
PARTING WORDS
“I’m the mother to myself. I mother me.”
— Singer Miley Cyrus on growing up and learning to take care of herself when her mom’s not around
