Spotify inks Joe Rogan deal, potentially $250M
Rogan’s podcast has been exclusive to the app since 2020, and the company stated that its revenue increased by 80% last year compared to 2021
Spotify Technology announced a new multi-year agreement with comedian and podcaster Joe Rogan on Friday, aiming to leverage the popularity of his show to boost its advertising revenue.
The multi-year deal with Rogan, reportedly valued at up to $250 million, includes an upfront minimum guarantee and a revenue-sharing arrangement based on ad sales, as reported by the Wall Street Journal on Friday. While the company refrained from commenting on the deal’s specifics, it stated in an email response that the estimated value mentioned in the WSJ report was inaccurate. However, it did not disclose the contract’s actual value.
The Joe Rogan Experience podcast, launched in 2009, has been available exclusively on the music streaming platform since 2020, with the company promoting it as the most widely listened-to podcast worldwide.
Spotify also announced plans to soon offer Joe Rogan’s show on additional platforms, including Apple, Amazon, and YouTube.
On his podcast, Joe Rogan has conducted interviews with prominent politicians, businessmen, and celebrities, including film director Quentin Tarantino, singer Miley Cyrus, and Tesla CEO Elon Musk.
Based in Sweden, Spotify is prioritizing the growth of its ad revenue on its platform through its advertising marketplace for podcast publishers and creators, known as the Spotify Audience Network.
With the podcast exclusively on Spotify, the platform has seen a 232% surge in overall podcast consumption,” the company revealed, noting an 80% revenue increase compared to 2021.
Spotify initially introduced podcasts in 2015 and significantly expanded into the medium starting in 2019, acquiring podcast networks Gimlet Media and Anchor FM, and securing exclusive agreements with reality TV personality Kim Kardashian and former US President Barack Obama. However, it has since scaled back its aspirations, leading to the dismissal of 200 Gimlet Media employees.
