![]() Spotify has made podcasting a key arm of its audio strategy, acquiring studios Gimlet and Parcast in early 2019 and bringing pop culture and sports editorial brand The Ringer in-house earlier this year. The Joe Rogan Experience also produces video episodes also to be available on Spotify as in-app vodcasts, a growing area of opportunity for the audio-first company. Since its launch in 2009, the pioneering Joe Rogan Experience has built a loyal fan base as Rogan broaches topics including neuroscience, sports, comedy, health and infectious disease with humor. While Spotify will become the exclusive distributor of Joe Rogan Experience, the host/comedian will retain full creative control over the show and work independently from the music streaming giant, not as an employee. The deal neared $200 million, according to a filing in the Security and Exchange Commission, and was Spotify’s most recent and highest profile acquisition before the Rogan deal.Bored Refugees, Young Love and Donkey Butts in 'A Happy Day' Trailer The RingerĮarlier this year, Spotify made waves when it bought Bill Simmon’s sports and pop culture site The Ringer, giving the streamer ownership of The Ringer’s extensive podcast programming, including most notably the “Bill Simmons Podcast,” perhaps the most popular podcast in sports. Below are some of the other most high-profile deals. The Rogan deal is just the latest of Spotify’s podcasting plays. Will the music industry let Spotify be successful with podcasts?” With labels, artists, songwriters and publishers we’ve already seen some discontent before. Spotify has to make a really big bet on what to do beyond music, but it can’t afford to lose the music in the mean time. ![]() “At the same time, Spotify wants to push back on rate fees because it says it can’t afford it, and yet it spent $100 million on a podcast. ![]() What Spotify is saying basically is ‘We value this podcast more than we value any single artist on our platform,'” Mulligan says. “Artists need tens of billions of streams to get the same money that Joe Rogan was just given for his show. Podcast players like Downcast and Overcast would also be viable options, Mulligan says.įor the company that’s ubiquitous with music - and has been partly responsible for bringing music out of the piracy-and-downloads era into a more profitable streaming model - further investment into podcasting may bring difficult questions for Spotify as it takes its resources away from music, Mulligan says. Mulligan calls fellow Swedish company Acast an obvious potential target that could bring lots of content to Spotify, and he also mentions podcast subscription service Luminary, which is looking for more cash due to its struggling business, according to Bloomberg. So who’s next on Spotify’s shopping list? And Spotify shows no signs of letting up yet. However, a powerful podcasting business can draw new ad dollars and grab older radio listeners the way music streaming took the younger ones. MIDiA Research managing director Mark Mulligan tells Rolling Stone that moves like these - which also expand Spotify’s audience and age reach - can turn Spotify into “the single biggest force in audio on the planet the same way Facebook became the single biggest force in social.” The rewards could be high, but the bet is still risky, Mulligan says, pointing out that Spotify faces tighter advertising from the coming recession. Whereas other streaming services like Apple and Amazon don’t have to rely on their music platforms for broader profitability, Spotify does - meaning it has to aggressively expand its non-music offerings if it doesn’t want to rely on record companies for revenue forever. The deal, which sent Spot’s stock rocketing upward this week, is the company’s most serious step into podcasting so far. It was clearly a big enough offer to get Rogan, who earns hefty ad revenue via his eight million YouTube subscribers following, to remove his previous podcasts from YouTube later this year. The exclusive Rogan deal exceeded $100 million, according to the Wall Street Journal, making it one of the largest single podcast deals the industry has ever seen. But it wasn’t a total surprise - the news further bolstered Spotify’s high-profile podcasting moves from the past year and a half. Spotify shook up the podcast world on Tuesday when popular and polarizing podcaster Joe Rogan announced his show “The Joe Rogan Experience” would become a Spotify exclusive this September.
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