Image source: Christian Peterson
Comedian and podcaster Joe Rogan has inked a new multi-year deal with Spotify Technology SA (SPOT.N) to increase advertising revenue by capitalizing on the popularity of his show. Launched in 2009, “The Joe Rogan Experience” has been the most-listened-to podcast in the world since 2020, and it has been available only on the music streaming platform.
Spotify has calculated to make Joe Rogan’s program available on more platforms, including YouTube, Amazon, and Apple. Guests on Rogan’s podcast have ranged from politicians and corporate moguls to famous faces like Elon Musk, Miley Cyrus, and Quentin Tarantino.
Spotify, headquartered in Sweden, is stepping up its attempts to increase ad revenue through its Spotify Audience Network, an advertising marketplace for podcast publishers and artists. Spotify has seen a tremendous 232% boost in overall podcast consumption since the podcast became exclusive to the platform. Last year, Spotify’s revenue increased by 80% compared to the previous year.
The Wall Street Journal reports that Joe Rogan and the company just negotiated a multi-year deal that could be worth up to $250 million. The pact includes a minimum guarantee and a revenue-sharing plan based on ad sales. Although Spotify did not want to be specific, it did deny the WSJ report’s estimated value and said it was inaccurate.
While podcasts were first added to Spotify in 2015, the company started to make waves in the podcasting industry beginning in 2019. Kim Kardashian and Barack Obama, among other famous people, were signed to exclusive partnerships after the corporation bought the podcast networks Gimlet Media and Anchor FM.
Joe Rogan’s program has shifted strategically by expanding beyond Spotify, which might increase its reach and influence. The Joe Rogan Experience is still essential to Spotify’s plan to dominate the podcasting industry and maximize ad income, even as the company’s podcasting strategy changes.