Some people nonetheless solely know Joe Rogan because the earlier host of Fear Problem. Or, do you have to’re super outdated (like me), you proceed to think about him as electrician/handyman Joe Garrelli on the extraordinarily underrated 1990s sitcom NewsRadio. UFC followers know him for his long-running gig as sideline commentator and post-fight interviewer. He’s moreover a nationally touring standup comedian.
Nevertheless hopefully by now, people perceive that Joe is a so much bigger cultural decide exterior of the aforementioned credit score. I’m not exaggerating as soon as I say Joe is definitely a number of the extremely efficient people throughout the leisure commerce, perhaps the nation.
He can sway elections, make or break careers and even get Elon Musk, the CEO of TWO public corporations to smoke weed all through a dwell taped broadcast. All of that vitality comes, due to the juggernaut podcast, the Joe Rogan Experience. A podcast that for the ultimate decade was primarily consumed on YouTube and iTunes.
Correctly, that remaining half is about to change on account of earlier instantly it was revealed that Joe Rogan is taking his podcast talents to Spotify.
The Joe Rogan Experience shall be transferring solely to Spotify starting September 1st. Throughout the months thereafter (sooner than the yr is over) he could even switch his entire library of archived episodes off iTunes and YouTube, over to Spotify. That’s 11 years worth of content material materials. Better than 1,400 episodes.
To be clear, Joe did not SELL his podcast to Spotify. He signed a multi-year licensing deal that retains Joe squarely answerable for the current and supplies. Spotify could don’t have any editorial administration or enter by any means.
How big of a deal did he sign? The Wall Street Journal and Bloomberg every report that the deal is worth over $100 million. I would wager it’s worth additional. All of it’s decided by what variety of years “multi-year” means. Is it a three-year deal? 5-year deal? Ten-year deal?
Take note of this: The Joe Rogan Experience is persistently basically probably the most useful podcast on the planet. By means of dwell industrial reads and YouTube video adverts, the Joe Rogan Experience generates $20-30 million per year in revenue. And that’s on his private.
Within the occasion you made $20-30 million per yr by your self, how so much would not it take to be able to go firm? To take all your content material materials off the free platforms that made you monumental throughout the first place?
For example it’s a three-year deal. One may safely presume he may proceed as-is, and make $60 – $90 million on his private. Would he take $100 million over $60 million? Most likely. $100 million over $90 million? PERHAPS. Significantly if the money was paid up entrance. In some other case, I’m pondering the deal may be additional like $150+ million.
What makes a great deal of sense to me is that if Joe in the mean time makes $20 million per yr, so $60 million over the next three years and Spotify supplied him $100 million UP FRONT. Cash now. Direct deposited.
As a comparability, in February 2020, Spotify bought Bill Simmons’ podcast group and digital media agency The Ringer for $200 million. Spotify ALSO agreed to deal with $50 million per yr in employee costs throughout the coming years. On the time of the sale, The Ringer was producing $15 million per yr in revenue. Joe Rogan generates perhaps twice as so much revenue now with a fraction of the employee costs.
For my part, a $100 million, three-year licensing deal for Joe Rogan undoubtedly feels throughout the ballpark.
Each method, congrats to Joe!