Spotify Extends Multi-Year Deal with Podcaster Joe Rogan

Spotify announced a new multi-year agreement with popular comedian and podcaster Joe Rogan on June 2, 2024, as part of its strategy to increase advertising revenue. “The Joe Rogan Experience” podcast has been exclusive to Spotify since 2020 and is currently the most listened to podcast globally, according to Spotify.

Expanding Reach to Other Platforms

In an effort to broaden its audience, Spotify plans to make Joe Rogan’s show available on other platforms, including Apple, Amazon, and YouTube. Over the years, Rogan’s podcast has hosted interviews with various high-profile guests, such as film director Quentin Tarantino, singer Miley Cyrus, and Tesla CEO Elon Musk.

Boost in Revenue and Consumption

Spotify’s focus on boosting ad revenue on its platform is facilitated by its advertising marketplace for podcast publishers and creators, the Spotify Audience Network. Since Rogan’s podcast became exclusive to Spotify, overall podcast consumption on the platform has surged by 232%. The company also reported an 80% increase in its revenue compared to 2021.

The Rogan Deal

The Wall Street Journal reported that the multi-year agreement with Rogan, which could be worth up to $250 million, includes an upfront minimum guarantee and a revenue sharing agreement based on ad sales. Spotify declined to comment on the specifics of the deal and disputed the estimated value mentioned in the WSJ report.

Spotify’s Podcast Evolution

Spotify first incorporated podcasts into its platform in 2015 and began a significant expansion into the medium from 2019. This includes acquiring podcast networks Gimlet Media and Anchor FM and signing exclusive contracts with reality TV star Kim Kardashian and former U.S. President Barack Obama.