Joe Rogan's new Spotify deal is worth up to $250 million
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The News
Spotify has reached an agreement worth up to $250 million with its most popular podcaster, Joe Rogan, to renew his show on a multiyear basis and allow his podcast to be distributed across a wider ranger of platforms, the company announced Friday. Previously, his show was only available on Spotify. The deal was first reported by the Wall Street Journal.
, which debuted in 2009, was the most listened to podcast in the U.S. in the third quarter of last year, according to Edison Research.
The deal will see Rogan get a share of the revenue his show generates on the platforms, Bloomberg reported. This is part of a wider push by Spotify to pay smaller minimum guarantees to its talent, and instead aim to distribute risk through revenue-sharing deals, The Wall Street Journal reported. Spotify has yet to make money on its $1 billion expansion into podcasting, The Journal previously reported.
Spotify’s shares rose by as much as 2.5% on Friday.
