The company disclosed this extension of their collaboration in a post on their corporate website last Friday. Previously, “The Joe Rogan Experience” had been exclusive to Spotify since 2020 under a lucrative multimillion-dollar deal.
The Wall Street Journal initially reported the details of the new agreement on Friday, estimating its value at up to $250 million over several years according to sources familiar with the matter.
The deal includes an upfront minimum guarantee as well as a revenue-sharing arrangement based on advertising income, as reported by the newspaper.
When approached for comment on the financial specifics, including the estimated value of the deal, Spotify declined to provide further details in an email to The Associated Press on Saturday.
Over the years, Joe Rogan has built a significant following for his extensive and diverse interviews featuring guests ranging from comedians and athletes to scientists and conspiracy theorists.
“There’s no script of what we are heading to converse about, and it all just form of transpires in true time,” said Rogan on Spotify’s weblog post.
“It’s just an precise organic discussion with persons savoring by themselves, which is anything we all can relate to, and a little something we all like to do. These conversations have modified the way I consider about existence immeasurably and continue to do so.” he said.
The show consistently ranks as Spotify’s most popular podcast, but it’s also been a source of controversy for the company.
In particular, Spotify faced significant pressure in 2022 to remove Joe Rogan due to his anti-coronavirus vaccine comments and use of racial slurs. This led to some musicians, like Neil Young, pulling their music from the platform in protest.
On Friday, Spotify’s shares experienced a significant uptick, closing up $3.51, marking an impressive increase of nearly 2% and reaching a noteworthy value of $222.47 per share.
The positive movement likely reflects investor confidence in the company’s strategic direction, recent performance, or broader market dynamics.
In February 2022, Spotify CEO Daniel Ek condemned Rogan’s racist language but stated, “I don’t believe that silencing Joe is the solution.”
