More information on Alex Cooper’s $125 million deal with SiriusXM reveals stringent details around the high expectations of the contract. Under the terms of the contract, Cooper’s responsibilities extend beyond hosting Call Her Daddy into network head territory.
According to Business Insider, the deal’s structure with SiriusXM incorporates performance-based metrics that Cooper must meet to realize the full potential of the $125 million valuation.
She will oversee the production and development of a full slate of programming for her Unwell Network. This includes current and future shows featuring various influencers such as Alix Earle, Madeline Argy, Harry Jowsey, and Owen Thiele. SiriusXM funds these projects, but as the network’s leader, Cooper is responsible for managing budgets, including compensations for other hosts involved in the network.
To meet her target, Cooper must maintaining or increasing listener numbers to meet specific download targets – a common practice in the industry known as “download insurance.” This ensures that the content remains engaging and reaches a broad audience.
Additionally, Cooper is expected to contribute to SiriusXM’s broader programming beyond her podcast network. This may include live events, special programming initiatives, and possibly roles in satellite radio offerings, as SiriusXM aims to bring a younger audience to its subscription-based product.
Amid an ongoing rebranding effort, SiriusXM reported a decrease in both revenue and subscribers in Q2 2024. The company’s revenue fell by 3% year-over-year to $2.18 billion, while its segment revenue saw a 5% drop to $1.6 billion, influenced by a loss of 100,000 self-pay subscribers primarily due to higher vehicle-related churn and subdued streaming growth.
Promotional subscriber numbers declined by 73,000, with total trial subscribers slightly reducing to 7.4 million from 7.5 million in the previous year. Despite these challenges, net income slightly increased to $316 million, up from $310 million in the second quarter of 2023, as reported by SiriusXM CEO Jennifer Witz, who also noted the total subscriber count at 33 million.
