Since 2020, Rogan’s podcast has been exclusive to the app, contributing to the firm’s reported 80% revenue growth in 2021 compared to the previous year
Spotify Technology announced a new multi-year agreement with comedian and podcaster Joe Rogan on Friday, aiming to leverage his show’s popularity to boost its advertising revenue.
According to the Wall Street Journal, the multi-year deal with Rogan, valued at up to $250 million, includes an initial minimum guarantee and a revenue-sharing arrangement tied to ad sales. While the company did not confirm the deal’s specific terms, it disputed the reported value, stating that the estimated amount mentioned in the WSJ article was inaccurate. However, Spotify did not disclose the actual value of the contract.
The Joe Rogan Experience podcast, launched in 2009, has been available exclusively on the music streaming platform since 2020. The company promotes it as the world’s most listened-to podcast.
Spotify also announced plans to expand the availability of Joe Rogan’s show to other platforms like Apple, Amazon, and YouTube.
On his podcast, Joe Rogan has conducted interviews with prominent figures such as film director Quentin Tarantino, singer Miley Cyrus, and Tesla CEO Elon Musk.
Based in Sweden, Spotify is prioritizing the growth of ad revenue on its platform through its advertising marketplace for podcast publishers and creators, known as the Spotify Audience Network.
The company noted that since the podcast became exclusive to Spotify, overall podcast consumption on the platform has surged by 232%. Additionally, Spotify reported an 80% increase in revenue last year compared to 2021.
Spotify initially introduced podcasts in 2015 and significantly expanded its presence in the medium starting in 2019. This expansion included the acquisitions of podcast networks Gimlet Media and Anchor FM, as well as securing exclusive deals with reality TV star Kim Kardashian and former US President Barack Obama. However, the company has since adjusted its plans, leading to the layoffs of 200 Gimlet Media employees.