A stock-analysis media site provides a few answers... 
https://seekingalpha.com/article/4483479-sirius-stock-industry-leading-hidden-weaknesses
 (link)  
   B

Kevin M, May 24th:

> Biggest sticking point for me is that Sirius is not really a successful 
> company, is it? For them to spend money acquiring non-proprietary content 
> seems at the very least unprofitable. If they are hoping to expand the 
> brand beyond its own app/service, that further indicates to me that their 
> offerings are indeed failing.
>

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