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Spotify signs new deal with Joe Rogan reportedly worth up to $250m

Spotify Technology has just inked a new deal with comedian and podcaster Joe Rogan, aiming to capitalize on the widespread popularity of his show to boost advertising revenue. While the reported multi-year deal is said to be worth up to $250 million, Spotify has not officially confirmed the figure. The agreement involves an upfront minimum guarantee and a revenue-sharing arrangement based on ad sales, as reported by the Wall Street Journal. Rogan’s podcast, the Joe Rogan Experience, became exclusive to Spotify in 2020 and has since claimed the title of the most-listened-to podcast globally.

In a shift from exclusivity, Spotify has also revealed plans to broaden the availability of Joe Rogan’s show, making it accessible on other platforms like Apple, Amazon, and YouTube. Since its debut in 2009, the podcast has featured interviews with a slew of high-profile figures, including Quentin Tarantino, Miley Cyrus, and Elon Musk.

Headquartered in Sweden, Spotify is strategically concentrating on boosting ad revenue on its platform, with the Spotify Audience Network serving as a key player in this initiative. The company has seen a significant impact on podcast consumption since securing exclusive rights to Joe Rogan’s show, with a remarkable 232% increase. Spotify reported an 80% surge in revenue last year compared to 2021.

Spotify initially entered the podcast scene in 2015 and ramped up efforts in 2019 with the acquisitions of podcast networks Gimlet Media and Anchor FM. Exclusive deals with notable personalities such as Kim Kardashian and former US President Barack Obama followed. However, the company later adjusted its approach, leading to the layoff of 200 Gimlet Media staff.

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