• Spotify has signed Joe Rogan to a new multi-year deal in hopes of capitalising on his popularity to drive advertising revenues.
  • The multi-year agreement with Rogan is estimated to be worth up to $250 million, the Wall Street Journal reported on Friday.

A long-term contract

Spotify on Friday announced a new multi-year deal with comedian Joe Rogan to use his show to drive advertising revenue.
The “Joe Rogan Experience” podcast debuted in 2009 and has been an exclusive show on the music streaming platform since 2020, with the company calling it the most-listened podcast in the world. Spotify also said it would soon make Joe Rogan’s show available on other platforms including Apple, Amazon and YouTube. Joe Rogan has interviewed famous politicians, businessmen, and celebrities, including film director Quentin Tarantino, singer Miley Cyrus, and Tesla.

Under The new licensing deal, Spotify will sell advertising for “The Joe Rogan Experience” and distribute it across multiple podcast platforms, including as a video on YouTube. Under the previous deal, the show was originally exclusive to Spotify.

Spotify, which is based in Sweden, is working to boost AD revenue on its platform through its AD marketplace for podcast publishers and creators, the Spotify Audience Network.

Elon Musk

Considerable expectation

“Since the exclusive launch of podcasts on Spotify, total podcast consumption on the platform has grown 232%,” the company said. The company also said revenue last year was up 80 percent from 2021. The multi-year deal with Rogan is estimated to be worth up to $250 million and includes a minimum deposit upfront and a revenue-sharing agreement based on advertising sales, the Wall Street Journal reported Friday. But it said in an emailed response that the valuation of the deal cited in the Journal report was inaccurate.

Spotify first joined the podcasting business in 2015 and has made a big push into the medium since 2019, acquiring podcast networks Gimlet Media and Anchor FM and signing exclusive deals with reality TV star Kim Kardashian and former US President Barack Obama.

Also read: Spotify Premium to Offer Instant Access to 150,000+ Audiobooks