Joe Rogan has agreed to new terms with Spotify (NYSE: SPOT) for his Joe Rogan Experience podcast, which came exclusively to the streamer back in 2020.
The new multiyear deal sets itself apart from the original contract entered into with Rogan in 2020 in that it is no longer exclusive. Instead, Spotify is set to sell ads for the podcast and distribute it across several platforms, which is said to include YouTube.
The new arrangement is said to be worth up to $250 million over the term, based on certain milestones being met. The contract includes an upfront minimum guarantee for an undisclosed amount, as well as a revenue sharing arrangement based on ad sales for the podcast.
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The original agreement, signed in 2020, made headlines at the time when Spotify agreed to pay $100 million for the exclusive rights to distribute the series. The deal as a whole meanwhile is estimated to have netted Rogan between $180 and $220 million, as per the Wall Street Journal. That arrangement however was tied to audience-number targets – which is convenient for Rogan, given that The Joe Rogan Experience is by far the most popular podcast on the entire Spotify platform.
Spotify last traded at $222.47 on the NYSE.
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