SoundCloud has extended its advertising sales agreement with SiriusXM’s Pandora, the companies announced on Tuesday.
The announcement was first made by the financial news website Axios, who received the scoop from officials at SoundCloud before a press release was issued.
As part of the deal, Pandora and SXM Media will continue to serve as SoundCloud’s exclusive advertising representative through 2024. The original agreement dates back to 2019.
The deal will allow SoundCloud to leverage SXM Media’s suite of direct sales capabilities and technologies, including its targeted data, audio programmatic product and ad-tech solutions like AdWizzz.
“We are excited to extend our SXM Media relationship and continue bringing innovative and creative music-first brand offerings to advertisers,” Vanessa Baria, the vice president of revenue partnerships and operations at SoundCloud, said in a statement. “By tapping into SoundCloud’s multicultural and Gen Z artist and fan communities, brands can be at the forefront of music and artist discovery while being a major part of an artist’s journey from the first upload and beyond.”
“We’re thrilled to continue our successful relationship with SoundCloud and help advertisers of all sizes reach SoundCloud’s audience of young, influential listeners and creators,” Phil Wierzbinski, the vice president of revenue partnerships at SXM Media, said on Tuesday. “Our work with SoundCloud gives brands access to the largest advertising marketplace in digital audio with the innovative tech and creative solutions to back it up. In fact, since 2019, we’ve seen the number of brands on SoundCloud increase by 20x.”
The deal builds on a long-standing partnership between SXM Media’s parent company SiriusXM and SoundCloud. In 2020, SiriusXM Holdings made a $75 million investment in SoundCloud in exchange for a minority stake in the company.
“We admire SoundCloud’s loyal and growing audience, its offering for creators, and its reputation and popularity in global music communities,” Jim Meyer, then-CEO of SiriusXM, said at the time. “We believe this is another opportunity to continue creating value for SiriusXM stockholders by investing in expanding digital audio platforms.”