SiriusXM Holdings, Inc. today announced the acquisition of Team Coco, the podcast network and digital media business led by Conan O’Brien. The $150 million deal (valuation first reported by The Wall Street Journal) will include the former NBC and TBS host’s late-night interview podcast “Conan O’Brien Needs a friend”, as well as 10 other podcasts such as “Inside Conan”, “Why Won’t You Hang Out With Me?” with Nicole Byer, “Parks and Memories” and more.
Additionally, as part of the deal, Conan entered into a five-year talent deal with SiriusXM. Not only will he remain the host of his hit podcast, but he will also work with the broadcast company to create and produce a new original comedy channel Team Coco for SiriusXM subscribers. Team Coco staff will also join SiriusXM.
“Conan O’Brien Needs a Friend,” which launched in 2018 and now accounts for more than two-thirds of the 16 million monthly downloads for all Team Coco podcasts, will continue to be available on other platforms. podcasting (Stitcher, the SXM app, Pandora, etc.). The flagship podcast, developed with Stitcher’s Earwolf, is ranked among the top five most searched podcasts and has won two Webby Awards.
Overall, the Team Coco podcast business has over 1 billion annual video views on YouTube and Facebook, an average of 180 million annual podcast downloads, and 17 million fans on social media platforms. In 2020, the company signed a first deal with Amazon’s Audible.
“When I started in television, my ultimate goal was to progress to radio,” Conan O’Brien said in a statement. “This new contract with SiriusXM builds on the excellent relationship that began several years ago with a team that stands out in its field.”
The SiriusXM deal also includes archives of “Conan” on TBS, live events, distribution of select videos from his podcast, and Team Coco branded merchandise. When the long-running late-night talk show “Conan” ended in 2021, Team Coco transitioned into an independent podcasting business.
Scott Greenstein, President and Chief Content Officer of SiriusXM, said, “We are delighted that Conan remains committed to producing his incredibly successful podcast and will now expand his role to executive produce an exclusive Team Coco radio channel for SiriusXM. Conan has built an incredible brand and organization at Team Coco with a proven track record of finding and launching compelling and addictive podcasts. We look forward to continuing to grow the Team Coco brand. »