When Spotify ironed out a deal with Joe Rogan in 2020 to bring his wildly popular podcast to the streaming platform, many unofficial figures were bandied about, with most landing around the $100 million mark.
Following the recent divisiveness and misinformation spread via the Joe Rogan Experience, the deal is drawing increased scrutiny, with other artists threatening to leave the platform if the podcaster stayed.
With the probing of the deal, the New York Times (paywall) is now reporting that the three and a half year deal between Rogan and Spotify is actually $200 million, doubling initial estimates.
To put that figure in perspective, if accurate, it would be more than what Spotify paid for the recent acquisition of two adtech podcasting platforms, which each cost less than $200 million.
With Spotify being unreserved in its desire to be the podcast platform the world over, it shows just how important bringing Joe Rogan was. Whatever your opinion of his politics and hot takes is, the pull of the content creator is undeniable, with his podcast being the most popular one in an estimated 93 countries for Spotify.
As we discussed last month with the Neil Young vs. Rogan incident, given how much money the latter brings in and now with the reported value of the deal, it is little wonder to see why Spotify has backed him throughout this.
Speaking to Spotify employees earlier this month, CEO Daniel Ek laid out the company’s position and the importance of deals like the Rogan one. “Exclusivity does not equal endorsement,” he explained, also intimating that the Joe Rogan deal was crucial in bringing Spotify’s podcast offerings to where it is today.
“To be frank, had we not made some of the choices we did, I am confident that our business wouldn’t be where it is today,” he added.
It therefore looks highly unlikely that Spotify will drop Rogan anytime soon and we not be surprised if that three and a half year deal is renewed down the line.
