Conan O’Brien has sold his podcast company to SiriusXM in a deal worth around $150 million.
Digital media company Team Coco and its network of ten podcasts are included in the deal. Also included is the former late-night host’s podcast, “Conan O’Brien Needs a Friend”. This acquisition marks SiriusXM’s biggest play to date in the podcast space. Conan will also produce a full-time Team Coco comedy channel for the SiriusXM service as part of the deal.
Conan O’Brien launched his hit podcast in 2018 as a new form of celebrity interview show. It ranked 26th among podcast listeners in the first quarter of 2022, according to data from Edison Research. It’s the most popular podcast overall under the Team Coco umbrella – responsible for more than two-thirds of the network’s podcast downloads.
According to the wall street journal report, Conan O’Brien owned most of the company, followed by CEO Jeff Ross. The company operates out of the renovated Hollywood headquarters to include two podcasting studios and a “collaborative clubhouse vibe”. Team Coco has about fifty employees.
“When I started in television, my ultimate goal was to progress to radio,” Conan said in a statement about the deal. “This new contract with Sirius builds on the excellent relationship that began several years ago with a team that stands out in its field.”
While the Team Coco podcast deal may be the biggest acquisition for SiriusXM, it’s not the first. In 2021, Sirius XM acquired the popular podcast 99% Invisible Inc., a popular podcast that deals with the hidden aspects of architecture and design in the everyday world.
The Team Coco umbrella includes a YouTube channel with 8.5 million subscribers. It features new videos from the Team Coco podcasts and old clips from the “Conan” TV show. Mr. O’Brien retained ownership of his “Conan” content and grants Sirius the rights to sell ads on those clips.