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· Posted on
August 26, 2024

SiriusXM drops $100 million USD for podcast crown jewel, Call Her Daddy

SiriusXM has announced that it has acquired the distribution rights to the Call Her Daddy podcast for $100 million USD over three years.

What's the key learning?

  • Although Spotify has been dominating the podcast scene, it was not able to fully explore the revenues podcast streaming may generate from ads.
  • This is why when these podcast rights deals expired earlier this year, Spotify said adios to exclusive hosting — the deals weren’t what it had hoped for.
  • So, Spotify must catch up and see which other unexpired podcast deals they have that they can generate revenue from, while it lasts.

👉 Background: SiriusXM is a one of the biggest audio entertainment companies in the US, valued at a massive $12 billion USD. And Call Her Daddy is one of the most listened to podcasts by women globally.

👉 What happened: SiriusXM has announced that it has acquired the distribution rights to the Call Her Daddy podcast for $100 million USD over three years.

👉 What else: Not only that, SiriusXM also has rights to the content produced by Alex Cooper’s talent network and the rights to sell ads on Call Her Daddy. This is a major the pivot for podcasts from the era of buying exclusive hosting rights.

What's the key learning?

💡Industries often start with a particular monetisation strategy, but over time, they adapt their approach. During the pandemic, the trend was all about securing exclusive hosting rights to popular podcasts to drive revenue.

💡At that time, Spotify bought multi-year exclusive hosting rights to podcasts like Call Her Daddy and the Joe Rogan podcast.

  • The good news: Spotify's advertising revenue on its platform grew 80% between 2021 and 2023.
  • The bad news: This could have been much higher if Spotify had the opportunity to sell ads for its exclusive podcasts to other platforms.

💡It seems SiriusXM has watched and learned. Rather than going for exclusive rights, SiriusXM is looking to monetise by distributing and selling ads on Call Her Daddy across different podcast streaming platforms.

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