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Spotify Technology SA (SPOT.N) has unveiled a renewed multi-year deal with comedian and podcaster Joe Rogan on Friday, aiming to capitalize on the immense popularity of “The Joe Rogan Experience” to drive advertising revenue on its platform.
Originally debuting in 2009, “The Joe Rogan Experience” has been exclusively available on Spotify since 2020, establishing itself as the most-listened-to podcast globally.
In a new development, Spotify announced plans to extend the show’s availability to other platforms, including Apple, Amazon, and YouTube.
Joe Rogan’s podcast has featured interviews with prominent figures such as film director Quentin Tarantino, singer Miley Cyrus, and Tesla CEO Elon Musk. Expanding its availability beyond Spotify aims to broaden the show’s reach and appeal to a wider audience.
Spotify, headquartered in Sweden, concentrates on enhancing ad revenue through its advertising marketplace for podcast publishers and creators, known as the Spotify Audience Network.
With “The Joe Rogan Experience” exclusive to Spotify, the platform has experienced a remarkable 232% increase in overall podcast consumption, contributing to an 80% revenue surge in the last year compared to 2021.
The renewed deal with Joe Rogan is speculated to be valued at up to $250 million, involving an upfront minimum guarantee and a revenue-sharing agreement based on ad sales, as the Wall Street Journal reported.
Spotify, however, did not confirm the terms of the deal but refuted the mentioned estimated value in the WSJ report.
Spotify entered the podcast space in 2015 and significantly ramped up its presence in 2019, acquiring podcast networks Gimlet Media and Anchor FM and securing exclusive deals with notable personalities like reality TV star Kim Kardashian and former U.S. President Barack Obama.
The platform’s strategic focus on exclusive content continues to drive growth in the competitive podcasting landscape.
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