Tag: satellite radio

SiriusXM and Netflix to Launch ‘Netflix Is a Joke Radio’ Channel April 15

SiriusXM and Netflix April 15 will launch “Netflix Is a Joke Radio,” a full-time comedy channel to air exclusively on SiriusXM channel 93.

It is the first time the streaming company has worked in unison with another major subscription media company to create a new outlet for their content, according to a SiriusXM press release.

The channel will feature highlights from top Netflix talent including Adam Sandler, Aziz Ansari, Bill Burr, Chris Rock, Dave Chappelle, Ellen DeGeneres, Gabriel Iglesias, Jerry Seinfeld, John Mulaney, Ken Jeong, Ricky Gervais, Sarah Silverman, Sebastian Maniscalco, Trevor Noah and Wanda Sykes.

“Netflix Is a Joke Radio on SiriusXM will be an audio extension of our award-winning stand-up comedy on Netflix,” said Netflix chief content officer Ted Sarandos in a statement. “We are thrilled to feature some of the greatest and funniest performers in the world with highlights from Netflix shows as well as original programming that further celebrates the art of comedy, and we are excited to do this in partnership with SiriusXM.”

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“SiriusXM is delighted to become the audio home for Netflix’s blockbuster comedy programming,” said Scott Greenstein, president and chief content officer, SiriusXM, in a statement. “Netflix has established itself as the unrivaled video source for stand-up, attracting the biggest names in the industry as well as break-out newcomers, and we’re eager to deliver SiriusXM subscribers access to their star-studded library, new specials, and original live shows.”

“I’ve seen the power of Netflix on their service for my own special, Stay Hungry, and now with their own SiriusXM channel, this opens up a whole new audience and it’s a great way to digest comedy on the run,” said comedian Sebastian Maniscalco in a statement.

In addition to featuring top comedy from Netflix’s established and up and coming artists, segments from future stand-up specials will debut on Netflix Is a Joke Radio, granting SiriusXM subscribers the chance to hear new material from ‘A’-list comics before anyone else, according to the release. The channel will also broadcast clips of Netflix’s comedy talk shows and other comedic content from the service.

The exclusive channel plans to introduce an original daily show, featuring celebrity guests and comedians discussing pop culture and hot topics of the day. The program will be recorded from SiriusXM’s new studios in Los Angeles.

SiriusXM’s comedy lineup also includes Kevin Hart’s Laugh Out Loud Radio Channel, for which Hart hosts a regular show, as well as a regular series with Ricky Gervais. In addition to original programs hosted by Larry the Cable Guy, Jeff Foxworthy, Jim Norton & Sam Roberts, Sebastian Maniscalco and Nikki Glaser, SiriusXM also produces audio documentaries on comedians such as Robin Williams, Richard Pryor, George Carlin, and Garry Shandling.

SiriusXM subscribers with streaming access can listen to SiriusXM’s 200-plus channels – including Netflix Is a Joke Radio – at home on connected devices including smart TVs, Amazon Alexa devices, Apple TV, Sony PlayStation, Roku and Sonos speakers.

Trump Signs ‘Music Modernization Act’, Easing Legal Requirements for Streaming Services

Lost in the haze of President Trump’s Oct. 11 bizarre news conference with rapper Kanye West, was the president signing into law the Music Modernization Act, passed unanimously by Congress in September.

Officially known as the “Orrin G. Hatch – Bob Goodlatte Music Modernization Act of 2018,” the legislation simplifies the “mechanical license” required for “musical composition” (music and lyrics) and sound recordings from record labels played on subscription music streaming services such as Spotify, Apple Music, Pandora and Amazon Prime Music, among others.

Before passage of the law, streaming music services were required to complete license forms for each song placed on their platforms – upwards of 10,000 titles per day.

Now, a new licensing agency will be established within the U.S. Copyright Office offering music services a blanket mechanical license to stream content. The agency will keep track of music streams and in turn pay royalties to rights holders.

The bill also allows for royalties to artists and songwriters for songs written prior to 1972. It also, for the first time, will afford compensation for a song’s producer played on satellite radio and online music service.

“There’s a lot more that needs to be done here,” said Kid Rock, who attended the bill’s signing. “We need to go after the record labels next, and things like free goods. But this is a great start to protect songwriters, producers, engineers — the unsung heroes behind many of these songs that go out there. People like [me], who are maybe more at the top of the food chain, it really doesn’t affect as much. But I know many people it does affect.”

SiriusXM Radio Acquiring Pandora for $3.5 Billion

Mega media mergers aren’t limited to video anymore.

Satellite radio operator SiriusXM and subscription streaming music operator Pandora Media Sept. 24 announced a deal under which SiriusXM will acquire Pandora in an all-stock transaction valued at about $3.5 billion.

The transaction, which has been approved by both the independent directors of Pandora and by the board of directors of SiriusXM, creates the world’s largest audio entertainment company, with more than $7 billion in expected pro-forma revenue in 2018.

The transaction is expected to close in the first quarter of 2019. It is subject to approval by Pandora stockholders, in addition to passing mustard with U.S. and foreign antitrust issues and regulations.

“We have long respected Pandora and their team for their popular consumer offering that has attracted a massive audience and have been impressed by Pandora’s strategic progress and stronger execution,” Jim Meyer, CEO of SiriusXM, said in a statement. “We believe there are significant opportunities to create value for both companies’ stockholders by combining our complementary businesses.”

Pandora’s more than 70 million monthly users would enable SiriusXM to significantly expand its presence beyond its more than 36 million subscribers across North America vehicles into the home and other mobile areas.

Leveraging SiriusXM’s exclusive content and programming with Pandora’s ad-supported and subscription tiers could create unique audio packages, while also utilizing SiriusXM’s extensive automotive relationships to drive Pandora’s in-car distribution.

“We’ve made tremendous progress in our efforts to lead in digital audio,” said Roger Lynch, CEO of Pandora. “Together with SiriusXM, we’re even better positioned to take advantage of the huge opportunities we see in audio entertainment, including growing our advertising business and expanding our subscription offerings.”

Pursuant to the agreement, the owners of the outstanding shares in Pandora that SiriusXM does not currently own will receive a fixed exchange ratio of 1.44 newly issued SiriusXM shares for each share of Pandora they hold. Based on the 30-day volume-weighted average price of $7.04 per share of SiriusXM common stock, the implied price of Pandora common stock is $10.14 per share, representing a premium of 13.8% over a 30-day volume-weighted average price. The transaction is expected to be tax-free to Pandora stockholders. SiriusXM currently owns convertible preferred stock in Pandora that represents a stake of approximately 15% on an as-converted basis.

The merger agreement provides for a “go-shop” provision under which Pandora and its board may potentially enter negotiations with parties that offer alternative (i.e. more lucrative) proposals. Pandora said it does not intend to disclose developments about this process unless the board acts on any superior bid.

“The addition of Pandora diversifies SiriusXM’s revenue streams with the U.S.’s largest ad-supported audio offering, broadens our technical capabilities and reach out of the car even further,” Meyer said.