“If we believe in having an open platform as a core value of the company, then we must also believe in elevating all types of creators, including those from underrepresented communities and a diversity of backgrounds,” the CEO wrote.Īccording to Ek, Spotify has had conversations “with Joe and his team about some of the content in his show, including his history of using some racially insensitive language”. Spotify’s exclusive multiyear deal with Rogan is reportedly worth more than $100 million. In the earnings call with investors, Ek said that the company will not change its policies based on one creator or change it based on “any media cycle or call from anyone else.” Ek ultimately defended the company’s continuing use of Joe Rogan’s podcast in a heated employee town hall after the company reported weak quarterly earnings in February.Ek said he is “committing to an incremental investment of $100 million for the licensing, development, and marketing of music (artists and songwriters) and audio content from historically marginalized groups”.
And ad-supported revenue accounted for a record 15% of total revenues in Q4, with a double-digit increase in monthly active users engaging in podcasts compared to Q3.Įarlier this month, Spotify’s stock plummeted to a 21-month low after its Q4 earnings following pushback over Rogan’s unsubstantiated comments about the pandemic and COVID vaccines. The streaming company recently reported 406 million monthly active users in Q4, up from 381 million from the previous quarter. and 92 other markets, creating more growth opportunities for Spotify’s advertising business. “The Joe Rogan Experience” is Spotify’s biggest podcast in the U.S. And now Spotify and Amazon are considering bids on the podcasting platform Audioboom.
Spotify bought podcasting company Gimlet Media and The Ringer, a podcast founded by ESPN alum Bill Simmons, for nearly $200 million. In recent years, Spotify has made a bigger play for podcasting content as it aims to grow beyond offering music to its subscribers. Reps for Spotify and Rogan did not immediately respond to TheWrap’s request for comment.
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