Spotify Renews Multiyear Agreement with Joe Rogan, Ending Exclusive Deal
Controversial podcaster Joe Rogan has secured a multiyear agreement with Spotify, ending the platform’s exclusive deal with him. Despite facing controversies and PR headaches, Rogan’s show has remained incredibly popular since joining Spotify in 2020, consistently ranking as the most-listened-to podcast globally. The new agreement, estimated at $250 million, will offer Rogan a minimum guarantee upfront as well as a share of the ad sales. However, the show will no longer be exclusive to Spotify.
Spotify’s initial deal with Rogan came at a time when the company was focused on building a collection of exclusive and original programs to compete with rivals like Apple Podcasts. The streaming service invested billions in its podcast business, acquiring studios and intellectual property, and signing exclusive deals with Rogan, Alex Cooper, and Dax Shepard. However, Spotify’s strategy shifted last year, leading to the departure of its head of podcast business, Dawn Ostroff, and layoffs within the company.
Recently, it was announced that Cooper’s show would no longer be limited to Spotify and would be available on other audio platforms like Apple. While the video content of the show will remain exclusive to Spotify, this move follows Spotify’s decision to expand the availability of its exclusives. Last year, Gimlet expanded its shows to other platforms, and Shepard’s shows also rolled out more broadly. With Rogan’s show no longer exclusive, Spotify aims to increase ad revenue by making these shows available across multiple platforms.
This change in direction for Spotify comes as the company continues to struggle to turn a profit consistently. Although it reported its first quarterly profit in a year and a half in October, Spotify hopes that expanding the availability of its former exclusives will attract more advertisers. This shift may also alleviate some of the pressure on Spotify when Rogan delves into controversial topics. In 2022, the streamer faced backlash for allegedly spreading misinformation, leading to policy adjustments and content advisories. However, these controversies did not impact Spotify’s paid subscriber numbers or give a boost to its streaming rivals.
Despite the controversies, Spotify remains confident in Rogan’s show, stating that it consistently ranks as the most-listened-to podcast globally and has been ranked as Spotify’s top podcast since 2020. The Joe Rogan Experience (JRE) now boasts over 2,200 episodes and is the second most-listened-to show for women over 13 in the U.S., according to Edison. Since joining Spotify, overall podcast consumption has grown by 232%, and ad revenue has increased by 80% from 2021 to 2023. JRE ad revenue specifically grew by 45% in 2023.
While Spotify disputes the figure reported by The Wall Street Journal regarding the deal’s value, the company declined to comment on specific terms. Nonetheless, this new agreement marks a significant shift for Spotify and Joe Rogan, as they move away from exclusivity and embrace a wider audience across various audio platforms.
