Sonos Revenue Declines, Apologizes

This is a YoY news story, published by Wired, that relates primarily to Sonos news.

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hardware sales falter

Wired

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Sonos Redesigned Its App and Made a Subscription Model Possible

Summary

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76% Informative

Sonos announced its fiscal 2024 earnings were down 8 percent year-on-year ( YoY ) This is the second year in a row that Sonos has posted a YoY decline in revenue.

The multi-room giant has spent much of the last few months on a reputation-saving mission.

But there could be bigger things at play here.

Sonos app has shifted from controlling your devices over your local network to an app that controls your devices via its own cloud.

By diverting everything through Sonos ’ servers, it ultimately gives the company more control over the things users can and can’t do with their devices.

Ex-Sonos developer who was made redundant in the company’s most recent layoffs says he has no idea why the app change happened.

Sonos' app redesign has opened the door to some kind of subscription play in the future.

It's a risk, but one that could be worth taking.

It might be over 20 years old but it's only been a publicly trading one for six years .

A new market segment could be one; subscription has so often been another.

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informal

Language

English