Early 2023, SoundCloud announced its renewal of its advertising sales agreement with SXM Media, further solidifying their ongoing collaboration. With that, the combined sales group of SiriusXM will continue to represent SoundCloud in advertising sales until 2024, providing the maximum possibility for artists to promote music on SoundCloud.
This partnership was initially established in 2019 and has since proven highly successful, making the decision to extend the agreement unsurprising. This agreement allows advertisers and brands to directly access and purchase SoundCloud’s U.S. advertising inventory through SXM Media.
Sirius XM: North America’s Leading Audio Entertainment Company
As a whole, Sirius XM Holdings Inc. is an American broadcasting corporation founded in 2008 in Washington DC and is now headquartered in Midtown Manhattan, New York City. Providing satellite radio and online radio services within the US, SiriusXM has not only become a place where users would be able to detailed information on local weather, sports scores, gas prices, and more, but it has also turned into one of the most successful brands in the areas of modern music services.
By 2023, it has already solidified itself as North America’s foremost audio entertainment company, featuring a broad range of audio-related businesses. This would include their flagship subscription-based entertainment service, SiriusXM, alongside the music streaming services of Pandora, which include both ad-supported and premium options. In addition to that, an extensive podcast network and a comprehensive suite of business and advertising solutions.
Specifically, SiriusXM has been able to reach and have an average audience of up to 150 million listeners a month. Despite being in the same industry as other massive and global platforms, such as Spotify and Apple Music, SiriusXM is one of the only financially stable listening services in the world.
What Does The SoundCloud-SXM Media Agreement Constitute?
The agreement between the two organizations means that SXM Media’s direct sales capabilities, audio programmatic product, targeting data, and innovative ad-tech solutions offered through Adswizz, a subsidiary of SiriusXM, will be leveraged.
Facilitated through SXM Media, this partnership would allow advertisers to access SoundCloud’s diverse, young, and engaged audience, with 80% identifying as Millennials or Gen Z. On top of that, it provides access to the platform’s unique and global community of engaged artists and creators. SoundCloud, the only music platform at this scale that allows for direct artist-to-fan connections has a substantial base of 130 million engaged users and 40 million artists.
Additionally, SoundCloud’s advertising inventory has now been accessible via AudioGO, AdsWizz’s self-service advertising platform for small and medium-sized advertisers and businesses. This initiative streamlines the process for agencies and SMBs to effectively reach and engage with SoundCloud’s audiences while utilizing AudioGo’s precise targeting capabilities that consider all forms of demographic segments and listening habits. With that, AudioGo is the only self-serve platform for advertisers to tap into SoundCloud’s U.S. advertising inventory.