The most popular podcaster on Spotify, Joe Rogan, and the company announced on Friday that they have reached an agreement worth up to $250 million to renew Rogan’s show for multiple years and to enable his podcast to be distributed across a wider variety of platforms.
His program was previously exclusive to Spotify. The transaction was initially documented by the Wall Street Journal.
According to Edison Research, The Joe Rogan Experience, which premiered in 2009, was the most listened to podcast in the United States during the third quarter of last year.
Bloomberg reported that the agreement stipulates Rogan receiving a portion of the revenue his program generates on the platforms.
The Wall Street Journal reported that this is part of a larger effort by Spotify to seek risk distribution through revenue-sharing agreements rather than paying lesser minimum guarantees to its talent. A profit has not yet been generated by Spotify’s $1 billion expansion into podcasting.
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