According to the Wall Street Journal, the deal with Rogan, which could be worth up to $250m, includes a guaranteed upfront payment and a share of the ad sales revenue. Spotify did not confirm the details of the deal and said in an email that the WSJ’s estimate was wrong. However, it did not disclose the actual value of the contract.
The Joe Rogan Experience podcast, which started in 2009, has been a Spotify exclusive since 2020, and the company claims that it is the most listened-to podcast in the world.
Spotify also announced that it will soon distribute Joe Rogan’s show on other platforms such as Apple, Amazon and YouTube.
With Rogan, Spotify is set to increase podcast consumption
Spotify, which is headquartered in Sweden, is aiming to increase its ad revenue on its platform by using its advertising network for podcasters and publishers – the Spotify Audience Network.
“Since the podcast has been exclusive to Spotify, overall podcast consumption on the platform has increased by 232%,” the company said, adding that its revenue in 2023 was 80% higher than in 2021.
Spotify began offering podcasts in 2015 and intensified its efforts in 2019, acquiring the podcast networks Gimlet Media and Anchor FM and striking exclusive deals with the reality TV star Kim Kardashian and the former US president Barack Obama. However, it has since reduced its aspirations, cutting 200 jobs at Gimlet Media.