SiriusXM has acquired Team Coco, the Conan O’Brien-led podcast network and digital media business.
Terms of the deal weren’t disclosed. The satellite radio company’s pact for Team Coco is worth about $150 million, per the Wall Street Journal.
With the deal, Team Coco’s staff will join SiriusXM, continuing to produce the network’s slate of podcasts including the “Conan O’Brien Needs a Friend” as well as collaborating on content for SiriusXM.
As part of the deal, O’Brien entered into a five-year talent agreement with SiriusXM, under which he will remain host of his namesake podcast, which will continue to be available widely. He also will collaborate with SiriusXM to create and executive produce a new full-time, original Team Coco comedy channel for SiriusXM subscribers. In addition, the agreement includes distribution of select video from O’Brien’s podcast as well as from the archives of his long-running late night show on TBS, live events, and merchandise from the Team Coco brands.
“When I started in television my ultimate goal was to work my way up to radio,” Conan O’Brien said in a statement. “This new deal with SiriusXM builds on the great relationship that began several years ago with a team that is the standout in their field.”
Since its inception more than a decade ago, Team Coco has garnered more than 1 billion annual video views across YouTube and Facebook. It averages 180 million annual podcast downloads and reaches 17 million followers across social media. Team Coco’s “Conan O’Brien Needs a Friend” was developed with Stitcher’s Earwolf, which is part of SiriusXM.
“We are thrilled that Conan remains committed to producing his incredibly successful podcast and will now expand his role into executive producing an exclusive Team Coco radio channel for SiriusXM,” said Scott Greenstein, president and chief content officer of SiriusXM. “Conan has built an amazing 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.”