Howard Stern, in a statement about the extension of his SiriusXM deal for another five years:

“Fifteen years ago, I joined SiriusXM, a fledgling group of broadcasters. I had been in a toxic relationship with terrestrial radio. And no matter how well I treated the medium, no matter how successful I made them, they abused me. Going to SiriusXM liberated me. I felt like Tina Turner freeing myself from Ike,” said Stern, who announced the news on his show Tuesday. “And despite the naysayers and the ridicule, we have persevered, and are thriving. I’ve been proven right about satellite radio over and over again. With this contract renewal, I can’t wait to see what else I’ll be right about. Certainly, I have a lot more to say about Metamucil crackers and stepmom porn. Plus, now that I can work from home, I simply don’t have an excuse to quit.”

This both is and is not a surprise. The old adage of “don’t fix what ain’t broken” would surely seem to apply here. But at the same time, with the podcast revolution in full swing, I would have thought someone — namely Apple or Amazon — would have thrown the kitchen sink filled with money to land Stern to some sort of exclusive deal a la Joe Rogan with Spotify.

Of course, that Rogan deal apparently cost Spotify something just north of $100M all-in (including rights to use his back catalog), Stern was said to be making something more like $100M a year in his most recent deal.

Much like the deal that brought Stern to Sirius in the first place, any deal to land an exclusive for Stern would have been another watershed moment. Of course, that’s probably exactly why Sirius couldn’t afford to lose him, quite literally. I have a SiriusXM account but only in my car (I know I could download an app to listen on the go, but I have five other apps that I’d rather listen to first, at least). I suspect I’m not alone there. And given that we’re not in our cars nearly as much in the era of COVID — yeah, Sirius needed to keep Stern. I can’t wait to hear how much it cost them…

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Writer turned investor turned investor who writes. General Partner at GV. Writer at 500ish. I write to think. 🍻

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