SiriusXM (SIRI) Inks Multi-Year Ad Deal With Crooked Media

SiriusXM SIRI recently signed a multi-year agreement with the independent progressive media company, Crooked Media.

Per the agreement, SiriusXM network will have Crooked Media’s top-ranked podcasts, including Pod Save America, Lovett or Leave It and Pod Save the World.

The agreement also provides SiriusXM’s subsidiary SiriusXM Media with exclusive global and sales rights to Crooked Media’s podcast portfolio, starting May 2022. The deal also gives Sirius XM Media sales and sponsorship rights to any content produced by Crooked Media, including digital video, social media and live events.

Sirius XM Holdings Inc. Price and Consensus


Sirius XM Holdings Inc. Price and Consensus

Sirius XM Holdings Inc. price-consensus-chart | Sirius XM Holdings Inc. Quote


Acquisitions & Partnerships to Aid User Growth

SiriusXM’s focus on building a strong content portfolio is likely to help it expand user base.

Recently, SiriusXM announced the launch of a limited engagement channel, The Joni Mitchell Channel, featuring the music of the iconic musician and songwriter.
Earlier this year, SiriusXM announced the launch of its new, limited-engagement channel, David Bowie Channel, to celebrate the artist’s life and music.

SiriusXM continues to bolster its content offerings by adding content from all genres, including news, sports, podcasts, music and politics, to its platforms.

In December 2021, SiriusXM started providing subscribers access to an extensive schedule of live games this football playoff season along with all Division I FBS bowl games — including the College Football Playoff Semifinals and National Championship — the FCS Football Championship game and other postseason All-Star games.

Also, an expanding partner base bodes well for SiriusXM.

On Mar 10, SiriusXM entered into an exclusive distribution and sales agreement with the leading global digital audio network company — reVolver Podcasts.

Through the multi-year deal, the New York-based radio broadcasting service provider’s advertising revenue organization, SXM Media, will gain exclusive global ad sales rights to the Texas-based company’s extensive podcasts.

In December 2021, SiriusXM partnered with Discovery DISCA, offering its Platinum VIP subscribers a 12-month subscription to discovery+.

As part of the deal, SiriusXM will offer eligible new and existing customers who upgrade to its Platinum, Music and Entertainment and Streaming Platinum packages with a complimentary three-month subscription to Discovery’s discovery+.

Expanding podcast efforts sync well with the existing advertising-led focus on Pandora and AdsWizz.

Late 2021, SiriusXM signed a deal with comedians Tom Segura and Christina P’s YMH Studios.

The multi-year agreement will incorporate the YMH Studios staff into Sirius’s radio streaming service Stitcher. After the incorporation, YMH Studios will continue to operate Your Mom’s House podcast and the rest of its acclaimed podcasts.

Per the deal, SiriusXM, its subsidiaries Pandora and Stitcher and YMH Studios will develop additional content, which will be available on multiple platforms.

SiriusXM had partnered with Marvel Entertainment to launch Marvel Podcasts Unlimited, a premium audio entertainment subscription for global Marvel fans. The subscription will be available exclusively on the new Marvel channel on Apple’s AAPL Apple Podcasts.

Customers can access the free Marvel channel on Apple Podcasts, which feature popular Marvel + SXM Podcasts original series, including Marvel's Wolverine: The Long Night and the sequel Wolverine: The Lost Trail. The Marvel Channel on Apple Podcasts also features the first installment of the new Marvel’s Wastelanders series and Marvel's Wastelanders: Star-Lord.

The availability of SiriusXM’s content on Alexa, Google Assistant and Amazon Echo is expected to further drive growth of its subscriber base.

Despite stiff competition from the likes of iHeartMedia IHRT and Apple, this presently Zacks Rank #3 (Hold) company is likely to sustain its growth momentum driven by strong content.

SiriusXM’s shares have moved up 4.1% in the trailing 12-months against the Zacks Broadcast Radio and Television’s decline of 24.5% and the Consumer Discretionary sectors fall of 24.5%. SiriusXM has also underperformed its peers iHeartMedia and Apple.

In the trailing 12-month period, iHeartMedia’s shares have returned 9.1% compared with Apple’s rally of 41.2%.

You can see the complete list of today’s Zacks #1 Rank stocks here.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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