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Spotify’s blockbuster deal to acquire Joe Rogan’s popular podcast reportedly has a price tag larger than $100 million — one of the most lucrative ever in the industry. The staggering amount is the likely value of the streaming service’s multiyear licensing agreement for “The Joe Rogan Experience” based on performance metrics and milestones, The Wall …
Spotify’s blockbuster deal to acquire Joe Rogan’s popular podcast reportedly has a price tag larger than $100 million — one of the most lucrative ever in the industry.
The staggering amount is the likely value of the streaming service’s multiyear licensing agreement for “The Joe Rogan Experience” based on performance metrics and milestones, The Wall Street Journal reported, citing a person familiar with the matter.
It dwarfs Spotify rival Stitcher’s two-year deal worth at least $10 million for the popular true-crime show “My Favorite Murder,” according to the paper.
Spotify did not disclose the terms of the deal in its Tuesday announcement that it would become the exclusive home of Rogan’s show, which currently boasts 8.4 million subscribers on YouTube. The Sweden-based company declined to comment on the specifics Wednesday morning.
Spotify’s deal with Rogan is the streaming giant’s latest effort to expand its podcast offerings. The company has acquired several podcast producers since last year, including The Ringer and Gimlet Media.
“The Joe Rogan Experience” will land on Spotify on Sept. 1 and become exclusive to the platform later this year. Rogan is known for attracting high-profile guests such as Tesla CEO Elon Musk, Sen. Bernie Sanders and atheist academic Richard Dawkins.
Spotify shares were up 1.1 percent in premarket trading Wednesday at $176.95 as of 8:15 a.m. after surging 8.4 percent Tuesday.
