It also purchased entire content companies, Gimlet Media in 2019 and The Ringer in 2020, for slightly less than $200M, according to company filings. Its strategy eventually centered around becoming the biggest player in podcasting, like creating buzzy new programs on Spotify Originals. Spotify executives came to view Joe Rogan as that transformative personality, and after an intense courtship, Spotify announced a licensing agreement to exclusively host the JRE in May 2020 (its stock soared 17% the week the deal was announced).Īiming to find a business that's more profitable than music hosting (it pays two-thirds of every dollar to rights holders), Spotify also tested out video back in 2015, but nothing came of it.
Looking to "further challenge Apple and Google, it wanted a superstar podcaster, much as Howard Stern helped put satellite radio on the map in 2006," per the NYT report. The thinking: Already a juggernaut in music streaming, Spotify was looking for a catalyst to propel its platform to the next level. Chief executive Daniel Ek told up-in-arms employees they did not have editorial control over 'The Joe Rogan Experience', which.
Spotify has found itself stuck between its 100 million flagship talent and a popular backlash over Covid-19 misinformation on his shows. According to the New York Times, the more than $200M contract at the streaming giant covered three and a half years of exclusivity, and despite recent backlash over vaccine misinformation, racism and other problematic themes, The Joe Rogan Experience still remains Spotify's biggest podcast in more than 90 countries. The comments were published Thursday as the firms stock went into freefall. How much did Spotify (NYSE: SPOT) shell out for podcast star Joe Rogan? Reports first suggested the deal was valued at $100M, but it now appears to be worth at least double that.
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