Podcast company

SiriusXM buys podcast company Team Coco from Conan O’Brien in $150 million deal

SiriusXM has acquired Team Coco, the podcast network and digital media company led by Conan O’Brien.

Terms of the agreement were not disclosed. The satellite radio company’s pact for Team Coco is worth around $150 million, according to the Wall Street Journal.

With this agreement, Team Coco staff will join SiriusXM, continuing to produce the network’s slate of podcasts, including “Conan O’Brien Needs a Friend,” as well as collaborating on SiriusXM content.

As part of the deal, O’Brien entered into a five-year talent deal with SiriusXM, under which he will remain the host of his namesake podcast, which will continue to be widely available. It will also collaborate with SiriusXM to create and produce a new full-time original comedy channel Team Coco for SiriusXM subscribers. Additionally, the deal includes distribution of select videos from O’Brien’s podcast as well as archives from his long-running late-night show on TBS, live events and Team Coco branded merchandise.

“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.”

Since its inception over a decade ago, Team Coco has garnered over a billion annual video views on YouTube and Facebook. It averages 180 million annual podcast downloads and reaches 17 million social media followers. Team Coco’s “Conan O’Brien Needs a Friend” was developed with Stitcher’s Earwolf, part of SiriusXM.

“We are thrilled 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,” said Scott Greenstein, President and Chief Content Officer of SiriusXM. “Conan has built an incredible brand and organization at Team Coco with a proven track record of researching and launching compelling and addictive podcasts. We look forward to continuing to grow the Team Coco brand.”