Sirius XM Holdings Inc (NASDAQ: SIRI) moves up 1.49% in early trading session on Monday as it has releases the opening of a cutting-edge broadcast center with a 50-seat concert venue in Miami in 2023.

In addition to office space, the building will include multiple artist-first radio and recording studios, as well as a world-class performance venue for special events such as the Small Stage Series.

The studios will be used by the company’s complete array of audio entertainment companies, including SiriusXM, Pandora, and Stitcher, and will be a location for both major stars and developing personalities to engage with listeners.

The SiriusXM studios in Miami will be a magnet for performers on promotional tours in the area, assisting the brand in gaining momentum with existing and new subscribers. Along with growing its studio presence, Sirius XM has successfully expanded its collaborations with a variety of businesses.

It signed a long-term partnership with Toyota Motors that began with 2020 models and would last through 2028. The relationship was renewed partly owing to rising demand for Sirius XM’s services from Toyota dealers and consumers. This would also allow Sirius XM to profit from the 360L expansion with General Motors, which is slated to be completed by the end of the year.

Its new and used car penetration rates increased year over year to 84% and 51%, respectively, and the enabled fleet currently numbers over 145 million vehicles.

Sirius XM added new subscribers in the second quarter of fiscal 2022 on key connected TV platforms such as Amazon Fire Android TV, LG, and Roku. It also reached an arrangement with Comcast, its first broadband TV provider, under which it would offer a fully integrated SiriusXM audio experience to millions of Comcast consumers via the Xfinity platform, which will also enable video later this year.