.jpg)
Sirius XM (SIRI) has struck a huge exclusive deal with Alex Cooper, the host of the show. “Call her dad” Podcast, as a last-ditch attempt to boost his declining results.
Sirius XM stock is down about 29% from a year ago, but has seen a steady uptick over the past three months, sending the media company’s stock up about 1.4% on Friday.
Related: Shin Takes Strict Action Against Timo
Although not yet confirmed by the media company, the multi-year deal with the “Call Her Daddy” podcast and Unwell Network is said to be worth around $100 million. 100 million dollars.
“The Daddy Gang will always be my top priority, and with SiriusXM we will continue to find new ways to evolve and provide my listeners with the best experience. The Daddy Gang wants more, so we are ready to give them more… I can’t wait for this new chapter to begin,” Cooper said in a statement. press release.
The agreement gives Sirius XM exclusive rights to sell advertising on audio and video versions of the show, as well as all additional content and related events.
Unfortunately, Call Her Daddy hasn’t been doing well in the podcast rankings lately. The podcast has dropped to No. 6 On Spotify’s US podcast charts, it dropped four spots compared to previous year.
Call Her Daddy is a podcast featuring advice and celebrity interviews hosted by its executive producer, Alex CooperFormerly owned by Barstool Sports, the podcast is now part of Unhealthy The Network, Copper’s latest business venture in collaboration with popular content creators.
iStock
Sirius XM’s Failed History of Podcasting
This isn’t Sirius XM’s first attempt to break into the audio streaming market; earlier this year, the media company acquired “smarter than that” Apple has signed a nearly $100 million deal with a podcast company in a three-year deal.
Since the multi-million dollar deal, SmartLess’s popularity has only declined. It currently ranks No. 1 on the Top 10 podcasts in the United States. 16 On Apple Podcasts, down two spots from where it was previously, it’s nowhere to be seen in Spotify’s top 10 podcast charts in the US, where it ranks at No. 31.
Related: Disney’s Acquisitions Are (Finally) Paying Off in a Big Way
Despite its insistence on trying to enter the audio streaming market, this strategy has proven unsuccessful for Sirius XM so far.
According to Sirius XM Q2 2024 Earnings ReportThe media company’s revenue was $2.18 billion, down 3% from last year’s second-quarter reports.
Net income per diluted common share was $0.08, which remained flat compared to the same period last year.
The number of self-paid subscribers of the satellite radio company decreased by about 1%, and the number of paid promotional subscribers decreased by 18% compared to the results of the second quarter of last year.
Regarding Sirius XM revenue, subscriber revenue decreased by 3%, advertising revenue decreased by 2%, and total revenue decreased by approximately 3% compared to the second quarter results of the previous year.
As Sirius XM President and Chief Content Officer Scott Andrew Greenstein said, Q2 Earnings CallThe company’s recent acquisition of podcasts is a strategy to generate revenue from loyal podcast listeners.
More entertainment:
- Chuck E. Cheese’s subscription plan costs less than Netflix
- Disney+ Makes Surprise Decision on Wrongful Death Lawsuit
- Disney+ and Hulu subscriptions are getting more expensive
The idea is to offer exclusive content to listeners and put it behind a paywall, hopefully moving away from the free content space.
“I feel very optimistic. There will be content growth tied to subscriber growth in the future,” Greenstein said.
Related: Veteran Fund Manager Sees a World of Pain Coming for Stocks
