NEW YORK - SiriusXM (NASDAQ: SIRI) has entered into a multi-year agreement with Alex Cooper, the renowned host and executive producer of the top-charting podcast "Call Her Daddy," to produce exclusive content starting in 2025. This deal grants SiriusXM exclusive advertising and distribution rights for Cooper's podcast as well as the entire lineup of shows from Unwell Network.
Cooper expressed her excitement about the partnership, emphasizing her commitment to her listeners, known as the "Daddy Gang," and promising to deliver more content through SiriusXM's platform. Scott Greenstein, President and Chief Content Officer at SiriusXM, highlighted Cooper's alignment with the company's content ethos and the potential for her growth within their network.
The agreement also includes exclusive global ad sales rights for SiriusXM Media over the video and audio editions of "Call Her Daddy" and other Unwell Network shows. With the addition of these podcasts, SiriusXM's reach extends to half of the podcast listeners in the U.S. monthly, offering advertisers a streamlined way to connect with a broad audience.
Since its inception in 2018, "Call Her Daddy" has become a cultural touchstone, with Cooper being named by TIME Magazine as one of the most influential women in podcasting. Her show has attracted millions of listeners per episode and is Spotify (NYSE:SPOT)'s number one podcast for women globally.
Cooper, alongside her husband Matt Kaplan, recently launched Trending and its subsidiary Unwell Audio Network, LLC, aiming to amplify Gen Z voices. Unwell Network's talent roster includes prominent creators and influencers, developing multiplatform content with Cooper's team.
SiriusXM Media represents a diverse array of podcasts and media companies, including SmartLess Media, audiochuck, Crooked Media, and its own award-winning shows. The new SiriusXM app enhances the podcast listening experience with features like transcription, key moment markers, and a premium subscription service, SiriusXM Podcasts+.
This strategic partnership between SiriusXM and Unwell Network, featuring exclusive content and advertising rights, is set to expand the audio entertainment company's influence in the podcasting realm. The information in this article is based on a press release statement.
In other recent news, Liberty Media Corporation has made amendments to its bylaws and director nomination process, aiming to align with recent amendments to the Delaware General Corporation Law and support the interests of its stockholders. The company is also under an antitrust investigation by the U.S. Department of Justice concerning Formula 1's actions related to Andretti Formula Racing's application to join the FIA Formula One World Championship. Liberty Media has pledged full cooperation with the investigation.
SiriusXM, a subsidiary of Liberty Media, has declared a quarterly cash dividend of $0.0266 per share, reflecting its consistent financial policies and commitment to delivering shareholder value. The company is also involved in a significant merger with Liberty Sirius XM Holdings (NASDAQ:SIRI) Inc., a subsidiary of Liberty Media Corporation. The merger deal has recently been amended to reduce the total number of outstanding shares of New Sirius common stock by 90% immediately after the transactions close.
In relation to the merger, Liberty Media Corporation has announced adjustments to the exchange ratios to align the nominal share price of New Sirius common stock with the price of the shares being redeemed in the split-off. This move is expected to enhance the stock's appeal to investors. The amendments have been approved by Liberty Media’s Board of Directors, the Special Committee of Sirius XM Holdings’ Board, and Sirius XM Holdings’ Board of Directors.
The financial sector has responded to these developments, with Citi downgrading Liberty SiriusXM's stock rating from Buy to Neutral and lowering the price target to $28. Similarly, Seaport Global Securities also downgraded Liberty SiriusXM's stock from Buy to Neutral, citing limited upside and projected losses in the first quarter of 2024. Both firms' adjustments reflect recent developments in Liberty SiriusXM's financial strategies.
InvestingPro Insights
The recent agreement between SiriusXM and Alex Cooper's Unwell Network underscores the company's commitment to expanding its content portfolio and solidifying its presence in the podcasting industry. To provide investors with a deeper understanding of SiriusXM's parent company, Liberty Media's SiriusXM Group (NASDAQ: LSXMA), here are some key insights from InvestingPro.
With a market capitalization of $7.49 billion, the company stands as a significant player in the media sector. Its Price-to-Earnings (P/E) ratio as of the last twelve months leading up to Q2 2024 is 7.33, suggesting that the company's stock is trading at a reasonable valuation relative to its earnings. Moreover, the P/E ratio also indicates that investors are paying less for each dollar of LSXMA's earnings compared to the broader market, which could be attractive to value-oriented investors.
InvestingPro Tips highlight that SiriusXM's parent company is anticipated to be profitable this year, reinforcing the company's financial stability. This is an important consideration for investors, especially in a media landscape that is increasingly competitive and rapidly evolving. Additionally, the company's strong free cash flow yield, as suggested by InvestingPro Tips, provides it with the flexibility to invest in new projects, pay down debt, or return value to shareholders—even though the company currently does not pay a dividend.
However, investors should note that short-term obligations exceed liquid assets, which could pose a liquidity risk. This metric is particularly relevant for those assessing the company's short-term financial health and its ability to meet immediate liabilities.
For those seeking more detailed analysis, InvestingPro offers additional tips for a comprehensive understanding of Liberty Media's SiriusXM Group's financial and operational performance. Visit https://www.investing.com/pro/LSXMA to explore the full range of insights available.
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