Spotify (NYSE:SPOT) just acquired what is arguably the most influential podcast on the air today.
The streaming music site has reportedly signed Joe Rogan in a $100 million deal that will see his entire 11-year content library migrate to Spotify where it will be available exclusively and the podcast will no longer appear on YouTube.
A unique experience
Rogan has become one of the biggest, most influential podcasters since he launched the Joe Rogan Experience in 2009. Forbes estimates that Rogan earns $30 million a year from his podcast with his 1,400 episodes garnering over 1 billion views.
The MMA announcer and former reality TV host had previously resisted signing on with Spotify because it didn't pay enough, but in recent months the streaming service has been investing heavily in podcasts, The Wall Street Journal reports.
Earlier this year, Spotify acquired sports and entertainment podcast creator The Ringer for an undisclosed sum after spending as much as $500 million to acquire three different podcast companies, including Gimlet Media, Anchor FM, and Parcast.
Although the length of the agreement with Rogan is unknown, the multiyear deal with the tech leader is expected to total over $100 million based on milestones and performance metrics.
Rogan announced he had signed with Spotify on his show yesterday and promised everything will remain the same as it is now. "The only difference will be it will now be available on the largest audio platform in the world," he said.
It will be free to listen to on both Spotify's free and premium services.