Spotify Inks Multiyear Deal With Podcast King Joe Rogan Amid Shifting Strategy

Spotify Technology SPOT shares are trading higher on Friday. The company announced a new multiyear partnership deal with podcast host Joe Rogan.

“JRE remains podcasting’s king, consistently ranking as the most-listened-to podcast globally and our users have ranked the show as Spotify’s Wrapped top podcast each year since 2020,” Spotify said in a release.

Spotify is expected to unveil the new deal soon, but there’s a chance negotiations may collapse, Bloomberg reported.

Rogan, known for his extensive talk show, ranked as the most listened to in the US in Q3 2023, per Edison Research, which Bloomberg noted. Rogan’s show features diverse guests, sometimes discussing conspiracy theories. 

He and Spotify faced criticism for alleged misinformation on the pandemic, leading to music withdrawals in protest, Bloomberg noted.

Despite controversies, the report added that his show’s appeal remains high, hosting notable figures like Bernie Sanders and Mark Zuckerberg.

Lately, Spotify has been adjusting its podcast strategy, moving away from audio exclusives to enhance audience reach and boost advertising revenue, per Bloomberg.

This week, Spotify also expanded its music partnership with Snap Inc SNAP

Price Action: SPOT shares are trading higher by 1.28% to $221.77 on the last check Friday.

Photo via Joe Rogan Experience podcast on YouTube