The most popular podcast on the Internet is moving to Spotify and it has generated a whole lot of buzz to avid podcast listeners around the world. The Podcast market has been growing and increasing the online presence of not just established professionals, comedians, professors, economists, stock market traders, sports analysts etc but also independent and emerging content creators. We will see what the $100 million Spotify’s Joe Rogan deal means for podcasts/webcasts market and its reach and presence in India and the synergistic benefits of the alliance.
About Joe Rogan and his podcasts
Joe Rogan is an American Comedian, Mixed Martial Arts commentator, former television host of the popular TV Show Fear Factor and Podcast Host of the Joe Rogan Experience. Started in 2009, the show has grown tremendously and has outperformed every other competing podcast. It has become one of the world’s most popular podcasts and regularly received millions of views per episode. Started by Joe Rogan and Brian Redban (a video Editor for Comedians and audio Engineer) and named after the Jimi Hendrix Experience (a legendary guitarist of the last century), it airs on multiple Platforms such as apple TV, ITunes, IHeartRadio, and since 2011 was streamed and uploaded on YouTube as well since 2011. The Podcast has been downloaded and viewed millions of times, with apple TV downloads running into 150 million per month and ever rising.
The podcast has spurred the boom of other podcasts and has spawned other popular Podcasts such as H3H3, Bill Burr’s Monday Morning Podcast, Brett Kriesher Podcast, and also of other Comedians such as Whitney Cummings, Bobby Lee etc. But by far, JRE is the most popular and has aired over 1500 episodes, in the 2-3 hour long format and breaking the rules of short duration content for the Millennial generation and also by being in the video format (as opposed to Audio). It has had many illustrious guests, entertainers, comedians, athletes, scientists etc especially the likes of Elon Musk, Robert Downey Jr, James Hetfield (from Metallica), Jack Dorsey, Scientist Brian Greene, Connor McGregor, Niel Degrasse Tyson as well US presidential Candidates like Bernie Sanders and Tulsi Gabbard and Clinical Psychologist and Global Intellectual Jordan Peterson.
Is Spotify’s Joe Rogan a Game Changer?
With this new Deal, Joe Rogan’s Podcast is moving exclusively to Spotify- and its Spotify’s latest addition to its podcast empire to compete with Google and Amazon. The Joe Rogan Experience will be uploaded to Spotify Starting In September. Rogan’s YouTube Channel will no longer host full episodes, although short clips of the Podcasts aired on Spotify might be put up.
The Podcast currently draws in $30 million annually from all platforms and Ad promotions combined. The Spotify Deal amounted to a whopping $100 million dollars and contains in its contract even more bonuses, bounties, incentives etc and is a massive victory for Spotify, which is diversifying from its existing business of music streaming to Podcasts. It also acquired other Podcast networks like Parcast, Anchor, Ringer, and Gimlet Media in the past year containing themes about Startups, Mars, crime, and built an exclusive content library.
The deal is part of a Multi-Year Licensing Deal, meaning that Joe Rogan and transferred his broadcasting rights to Spotify, yet retaining control over the podcast and exercising Complete creative freedom. This gives the platform complete and exclusive rights to host Full Episodes of the Joe Rogan Experience, starting September.
This move is expected to siphon listeners away from Apple’s Podcast App and is likely to draw in a significant portion of listeners who go to YouTube for Podcasts. The JRE however will remain free once it is hosted on Spotify, which itself is a free App and has over 627 million Users worldwide.
Also Read- https://infokoala.com/rise-of-spotify/
Why Podcasts are popular?
The World over, there is demand for quality content and intellectually stimulating conversations as well the entertainment value and the life hacks and pieces of advice on mental and Physical health in an accessible and low cost or even free platform. Podcast originate from the words Ipod (since back in the day it was listened to on the Ipods) and Broadcast. It is essentially a radio show that is broadcast to millions of listeners tuning into various platforms.
Podcasts have blown up because they are especially usable when people are commuting to work or doing chores or engaging in any other Activity or those who don’t have the time to read books or articles and at the same time process and absorb complex information about academics, philosophy, religion, and just making sense of the world events. Predominantly present in the US, it is also penetrating to the rest of the world and is even popular In Metro Cities of India. The Spotify Deal could provide even greater traction and make the podcast big In India and its 1 million Plus growing Indian Subscriber base streaming the Music Market. The Music streaming Industry is expected to grow to 400 million Users within 2 to 3 years according to Gaana CEO Prashan Agarwal.
Synergy of Spotify’s Joe Rogan Deal
If getting $100 million (possibly even more) wasn’t reason enough for Joe Rogan to hand over the broadcasting rights, the move is a culmination of long Skirmishes that JRE has had with YouTube, with its unethical censoring practices and demonetization of the Channel creators over ‘supposed’ violation of community guidelines, hosting guests that were banned from other Social Media Sites (Political Commentators Alex Jones, Milo Yiannopoulos). There was also a lot of Friction between JRE and YouTube for discussion over Transgender Athletes and debating and hosting Influential Individuals banned or reproached by the far left political end of the Spectrum. Censoring free speech and the infiltration of leftism in YouTube’s policies has been cited as a possible reason for the move.
The migration will certainly bring in new users to Spotify and Drive up numbers of subscribers to both the apps. More Subscribers for Spotify will drive up the audience base and ad Revenue for the platform, more conversion rate for premium subscription, lesser churn rate and creating Especially at a time when Record Labels such as Warner Bros or T Series have bargaining power and licensing music can become expensive for Spotify, it can build its audience base with the Podcast segment and position itself as not just a music App but a complete content repository and library. Spotify’s share value sky rocketed and its share value increased 8% by around 30 dollars and its market Capitalization Increased by $5 Billion. And Joe Rogan will be filthy rich and continue to retain complete creative control and build an even bigger audience.
So It is a win-win for all and even for us regular consumers looking for quality content, unfiltered and incisive. Podcast markets are the thing of the future and the next Iteration of the dying Radio market in a completely new avatar.