Broadcasting company SiriusXM Holdings, Inc. (NASDAQ:SIRI) has signed a multi-year agreement with YMH Studios to integrate the latter into its podcast company Stitcher. The integrated company will continue to run YMH Studios’ podcasts.
YMH Studios is owned by the host and comedian couple, Tom Segura and Christina P.
Manhattan-based SiriusXM provides satellite radio and online radio services. It offers music, sports, entertainment, comedy, talk shows, news, traffic and weather channels, as well as infotainment services.
Agreement Details
As per the terms of the agreement, SiriusXM, YMH Studios, Stitcher and SiriusXM brand Pandora will work jointly to develop additional content that can be accessed through multiple platforms.
All of YMH Studios’ content will be distributed by Stitcher across all podcast platforms. Further, users can subscribe to YMH Studios podcasts on Pandora, the SXM App, Stitcher and other major podcast listening platforms.
Additionally, starting January 1, 2022, Stitcher Premium is likely to stream shows of YMH Studios without any ads.
Management Comments
Jack Vaughn, Senior Vice-President of Comedy Programming at SiriusXM, said, “We’re excited to bring in and expand the ‘Jeans’ team, and foster the right environment to help Tom, Christina and the rest of the YMH crew continue to create even more hilarious content.”
The COO of Stitcher, Daniel Osit, said, “Stitcher has been the home of great comedy shows since our earliest days. Now as we begin working with Tom, Christina and the entire YMH staff, we solidify our position as leaders in comedy podcasting.”
Analyst Ratings
Overall, the stock has a Moderate Buy consensus rating based on 3 Buys, 3 Holds and 1 Sell. The average SIRI stock forecast of $7.36 implies a nearly 16% upside potential. Shares have gained 2.9% year-to-date.
Website Traffic
TipRanks’ Website Traffic Tool, which uses data from SEMrush Holdings (SEMR), the world’s biggest website usage monitoring service, offers insight into SiriusXM’s performance.
According to the tool, compared to the previous year, SiriumXM’s website traffic registered a 2.4% rise in global visits in November. Moreover, the website traffic has increased 5.2% year-to-date against the same period last year.
Related News:
Bluerock Residential Surges 76.2% on $3.6B Takeover Agreement
Oracle to Snap Up Cerner for $28.3B
McKesson to Vend Austrian Business
