SiriusXM Signs Giggly Squad In Major Podcast Deal
SiriusXM's $160 million deal with Giggly Squad signals a shift in podcasting, with platforms competing for creator-led businesses. This change may impact the industry's future.
Original reporting · digiday.com
Original: “Giggly Squad’s SiriusXM deal signals a shift from podcast networks to creator ecosystems”
Read “Giggly Squad’s SiriusXM deal signals a shift from podcast networks to creator ecosystems” at Digiday →
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Key points from Digiday’s report
- SiriusXM's deal with Giggly Squad signals a shift in podcasting, with platforms competing for creator-led businesses.
- The demand for Giggly Squad has been unprecedented, with four live tour nights selling out at Madison Square Garden.
- The podcasting landscape has become more verticalized, with platforms working with specific talent to build a loyal fan base.
- Brands are looking to partner with creators in various ways, including sponsoring equipment and attending live events.
- Other platforms, such as Substack and Beehiiv, are offering tools and services to help creators connect with brands.
SiriusXM recently signed a multi-year deal with creators Paige DeSorbo and Hannah Berner for their Giggly Squad podcast, reportedly valued at $160 million. This deal is significant because it shows how platforms are now competing for creator-led businesses, not just individual shows. The podcast's success is evident, with four live tour nights selling out at Madison Square Garden.
The demand for Giggly Squad has been unprecedented, according to Kelli Hurley, vp and head of content and podcast partnership at SiriusXM. Despite being prepared, the company was still caught off guard by the high demand. This surge in interest may be due to the steady influx of new podcast listeners, with 8% of consumers starting to listen in the last 30 days.
The podcasting landscape has shifted over the years, with the power now lying in the hands of creators rather than networks. Adam Sachs, svp of podcast content at SiriusXM, has seen this change firsthand, having worked in podcasting for 15 years. The approach has become more verticalized, with platforms working with specific talent to build a loyal fan base.
Building these vertical ecosystems involves providing support to creators, from helping with audio-visual setups to hosting live events. SiriusXM wants to be involved in all aspects of a podcast, including audio, video, social media, and live events. This comprehensive approach may help the company attract and retain top talent in the industry.
Other platforms, such as Amazon, are also looking to work with creators in a more holistic way. The investment in the NFL brother duo podcast, New Heights, signals a major shift in the partnership dynamic. A distinct upper tier of creators is emerging, with significant separation from those who are just starting out.
The top tier of podcasting is now drawing large live audiences, with Giggly Squad being the first female-hosted podcast to headline Madison Square Garden. Tickets for the live tour sold out quickly, with prices averaging in the mid-$100s. This level of success may lead to more brands looking to partner with popular podcasts and their creators.
Brands are looking to partner with creators in various ways, including sponsoring equipment, distributing content, and attending live events. Some brands want exclusivity, but SiriusXM aims to offer more comprehensive partnerships. The company wants to be a one-stop shop for brands, providing a range of services and support.
Other platforms, such as Substack and Beehiiv, are also offering tools and services to help creators connect with brands. These platforms provide features like dynamic ad insertion and programmatic sponsorships, giving creators more flexibility and control over their content. This may lead to more creators looking to partner with these platforms in the future. This article is based on reporting by Digiday.
Questions and answers
What is the significance of SiriusXM's deal with Giggly Squad?
The deal signals a shift in podcasting, with platforms competing for creator-led businesses rather than individual shows.
How is the podcasting landscape changing?
The landscape has become more verticalized, with platforms working with specific talent to build a loyal fan base.
What kind of support do platforms offer to creators?
Platforms offer support such as helping with audio-visual setups, hosting live events, and providing tools for connecting with brands.
