SiriusXM has launched an ad-supported subscription plan called SiriusXM Play, aimed at attracting new listeners and converting free trial users into long-term customers. The plan, priced under $7 per month, will feature limited commercials and is part of the company's strategy to increase revenue amidst growing competition from other audio platforms. Despite a decline in subscribers and advertising revenue, SiriusXM is focusing on its in-car business and unique content offerings to enhance profitability.