It’s been a big week for podcast deals! I look forward to sleeping it off this weekend.
Why did SiriusXM give SmartLess a $100 million deal? Look at its subscriber losses.
It’s been a massive week for podcast deals, including SiriusXM signing SmartLess away from Amazon’s Wondery for more than $100 million. The news broke soon before SiriusXM released its annual earnings for 2023 in which the company reported a drop of 430,000 subscribers over the course of 2023 (despite how allegedly difficult it is to cancel a subscription).
As audiences drift away from satellite radio, SiriusXM is under pressure to keep younger audiences engaged. Last year, it debuted its new integrated app and a $9.99 per month streaming-only tier. And while the…