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. 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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