9 Stocks Warren Buffett Has Bought Since Beginning of AI Revolution

2. The Liberty SiriusXM Group (NASDAQ:LSXMA)

Number of Hedge Fund Holders: 38

Berkshire Hathaway’s Shares in Q1 2024: 65,486,288

The Liberty SiriusXM Group (NASDAQ:LSXMA) engages in the entertainment business in the United States, the United Kingdom, and internationally. The firm recently merged with Sirius XM, a company that provides satellite radio services. The merger aims to improve access to yield-seeking investments for the latter as it faces competition from the increase in mobile network coverage as well as the modernization of entertainment systems in cars that previously used satellite radios exclusively. Sirius XM has also been expanding digitally, purchasing Pandora in 2019 that allowed it to market original content on the internet through a streaming application that is showing signs of growth.

However, The Liberty SiriusXM Group (NASDAQ:LSXMA) will have to compete with tech giants in the streaming space over the next few years as it aims to attract subscribers through high-quality entertainment content. Since these technology companies have far greater resources than the media giant, it seems possible that this will happen with pricing caps in place. Live sports broadcasting rights might also be a key factor that will favor SiriusXM over other competitors in the audio domain.