Canada NewsWire
TORONTO, Oct. 13, 2021
Audio Up completes $12 million fundraising effort - current round led by SiriusXM
TORONTO, Oct. 13, 2021 /CNW/ - SiriusXM Canada, the country's leading audio entertainment company, is pleased to announce that Sirius XM Radio Inc., a subsidiary of SiriusXM Holdings Inc. (NASDAQ: SIRI), has entered into a new creative programming and strategic agreement with Audio Up, an innovative podcast and audio entertainment production studio.
Under the agreement, Audio Up is expected to create new original scripted podcasts for SiriusXM and its owned audio platforms - which include the SXM App and Stitcher - while also collaborating with SiriusXM to develop new audio entertainment concepts and forge new promotional and distribution synergies across SiriusXM properties, furthering SiriusXM's place as a leader in podcast hosting, production, distribution, analytics, and monetization.
The agreement gives SiriusXM an exclusive "first-look" co-production option for new Audio Up original podcast concepts, with accompanying options for exclusive distribution across SiriusXM properties, as well as exclusive rights to manage and sell advertising inventory and sponsorship in connection with any podcast produced for SiriusXM through its SXM Media combined sales organization.
In addition, Audio Up announced today that it has completed a $12 million Series B funding round led by SiriusXM. Andrew Moss, SiriusXM's Senior Vice President, Business Affairs and Programming Operations, has also joined the Board of Directors of Audio Up.
Audio Up, established in 2020 by Jared Gutstadt, creator of the Jingle Punks creative music agency and Adweek's 2020 Podcast Innovator and Producer of the Year, is a podcast content production studio that has built a slate of distinctive, original scripted audio entertainment featuring marquee names across music (Machine Gun Kelly, 24kGoldn, Miranda Lambert, Nelly), Hollywood (Anthony Anderson, Garrett Hedlund, Jason Alexander, Gary Busey), publishing (James Ellroy, Stephen King), and more.
Forthcoming new Audio Up original podcast series include The Playboy Interview, which presents teleplay-type re-enactments of some of the most iconic Playboy Interview conversations in history, featuring Taye Diggs as Muhammad Ali, Rosanna Arquette as Betty Friedan, Gina Gershon as Oriana Fallaci, among others.
A variety of original podcasts from Audio Up's back catalog will also be re-presented across the SXM App and Stitcher, including:
"Podcasts have only scratched the surface of their potential as a powerful driver for discovery, and an entertainment medium with virtually no creative boundaries," said Audio Up CEO and Founder, Jared Gutstadt. "With the vast reach and wide diversity of listeners that SiriusXM and Stitcher together represent, we not only have a massive new multi-platform outlet for our original programming, but in SiriusXM we have a creative ally who shares our ambitions to keep pushing podcasting forward."
Audio Up is expected to be an additional creative driver for SiriusXM in connecting artists, labels, brands, and creators of all types in developing new audio entertainment programming across SiriusXM channels, and exploring new possibilities for original scripted, podcasts and branded audio content opportunities for advertisers.
"Whether it's inventing a new breed of boundary-breaking original podcasts or developing innovative audio concepts that let brands and creators connect with listeners in new ways, Jared and Audio Up have become the place where talent meets technology," said Scott Greenstein, President and Chief Creative Officer of SiriusXM. "Audio Up is known for creating podcasts that combine music, entertainment, and rich storytelling to create bold new listening experiences, and we're thrilled to welcome them to our extended SiriusXM family."
The agreement follows SiriusXM's acquisition of leading podcast platform Stitcher and its execution of several high-profile exclusive podcast content deals, including the acquisition of Roman Mars' 99% Invisible podcast and the launch of Seth Rogen's original podcast series, Storytime With Seth Rogen.
About SiriusXM Canada
Sirius XM Canada Inc., operating as SiriusXM Canada, is the country's leading audio entertainment company. SiriusXM creates and offers ad-free music; premier sports talk and live events; comedy; news; podcasts; and exclusive talk and entertainment. SiriusXM is available in vehicles from every major car company and on smartphones and other connected devices as well as online at siriusxm.ca.
Join SiriusXM Canada on Facebook at facebook.com/siriusxmcanada, on Twitter at @siriusxmcanada, on Instagram at @siriusxmcanada and on YouTube at youtube.com/siriusxmcanada.
SiriusXM radios and accessories are available from retailers nationwide and online at SiriusXM. In addition, SiriusXM Music for Business provides ad-free music to a variety of businesses. SiriusXM is also a leading provider of connected vehicles services, giving customers access to a suite of safety, security, and convenience services including automatic crash notification, stolen vehicle recovery assistance, enhanced roadside assistance and turn-by-turn navigation.
SiriusXM Canada has been designated one of Canada's Best Managed Companies 12 years in a row and is currently a Platinum Club Member.
SOURCE Sirius XM Canada Inc.
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