SiriusXM acquires Conan O’Brien’s Team Coco podcast company for $150 million

Sirius XM Holdings, Inc. today announced the acquisition of Team Coco, the Conan O’Brien-led podcast network and digital media company. The $150 Million Deal (Valuation First Reported By) The Wall Street Journal) will see former NBC and TBS host’s interview podcast “Conan O’Brien Needs a Friend,” along with ten other podcasts such as “Inside Conan,” “Why Won’t You Date Me?” with Nicole Byer, ‘Parks and Recollection’ and more.

As part of the deal, Conan has also entered into a five-year talent agreement with SiriusXM. Not only will he continue to host his popular podcast, but he will also partner with the broadcaster to create and produce a new original Team Coco comedy channel for SiriusXM subscribers. Team Coco’s staff will also join SiriusXM.

“Conan O’Brien Needs a Friend”, which launched in 2018 and now accounts for over two thirds of the 16 million monthly downloads for all Team Coco podcasts, will continue to be available on other podcasting platforms (Stitcher, the SXM app, Pandora, etc.). Developed with Stitcher’s Earwolf, the flagship podcast is in the top five searched podcasts and has won two Webby Awards.

Overall, Team Coco’s podcast business has more than 1 billion annual video views on YouTube and Facebook, an average of 180 million podcast downloads per year, and 17 million fans on social media platforms. In 2020, the company signed a first-look deal with Amazon’s Audible

“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 started several years ago with a team that excels in their field.”

The SiriusXM agreement also includes archives of “Conan” on TBS, live events, distribution of select videos from his podcast, and merchandise from Team Coco’s brands. 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 as executive producer of an exclusive Team Coco radio channel for SiriusXM. Conan has built a great brand and organization at Team Coco with a proven track record of finding and launching engaging and addictive podcasts, and we look forward to continuing to grow the Team Coco brand.”