In May 2020, Spotify signed an exclusive podcast deal with Joe Rogan that is now rumored to be valued at $200 million, according to the New York Times. In the week following this announcement, Spotify’s stock went up 17%. The Joe Rogan Experience (JRE) is Spotify’s most popular podcast in 93 markets and lays Spotify’s advertising growth in recent years at the foot of podcasts and Joe Rogan’s show in particular.
Concerns have been swirling around Mr. Rogan’s podcast since the beginning. In September 2020, Spotify CEO Daniel Ek addressed employees’ concerns around transphobic content on the podcast. “Others have concerns specifically over a recent episode,” Ek said at that time, according to Vice.…