SiriusXM Acquires Exclusive Rights to Hit Podcast SmartLess for Over $100 Million
Sirius XM Holdings Inc. has made a significant move in the podcasting industry, acquiring exclusive rights to the hit podcast SmartLess, hosted by actors Will Arnett, Jason Bateman, and Sean Hayes. The deal, valued at over $100 million, is part of a larger agreement between SiriusXM and SmartLess Media, according to sources familiar with the matter.
As part of the three-year agreement, Sirius will have the rights to distribute and sell advertisements for SmartLess and other programs such as Bad Dates. Additionally, the deal encompasses live events and access to previously aired episodes.
The acquisition of SmartLess, which will come into effect later this year, is seen as a strategic move by Sirius to enhance its service and the SiriusXM Podcast Network. Since its launch in 2020, SmartLess has gained immense popularity, featuring interviews with prominent figures from various industries. The podcast has also organized live events, with its tour even becoming the subject of an HBO documentary.
Notably, SmartLess was previously distributed by Amazon.com Inc., which reportedly paid between $60 million and $80 million for the rights to the show over a three-year period. Amazon’s strategy included making new episodes available on its platforms for a week before releasing them elsewhere, a tactic aimed at attracting new users.
In a statement, Scott Greenstein, President and Chief Content Officer of SiriusXM, expressed the company’s dedication to podcasting and emphasized the strengthening of their leadership position with the addition of SmartLess. This move aligns with Sirius’s efforts to expand its presence in the podcasting space, especially as it faces competition from streaming giants like Spotify and Amazon.
SiriusXM, which concluded the third quarter with 34 million subscribers and approximately 150 million listeners, is set to announce its year-end financial results on February 1. The acquisition of SmartLess signifies a significant step for the company as it continues to navigate the evolving landscape of digital media and entertainment.
