Spotify Lands the Rights to Joe Rogan's Podcast
Spotify (NYSE: SPOT) built its brand in the streaming music space. The subscription service, which also offers a free, ad-supported option, has long been a go-to source for licensed music from artists in all genres. But Spotify's long-term plans don't rely on tunes alone.
For over a year, Spotify has been increasingly interested in another type of audio content: podcasts. There are a number of reasons why podcasts make so much sense for Spotify, including their power to direct advertising and the fact that some competitors, including Apple Music, don't include them (the Cupertino-based tech giant has a separate platform for podcasts). Spotify has even invested in podcast studios of its own in an apparent bid to start creating original content and exclusives in a way that's reminscent of Netflix's original content strategy.
Now, Spotify has landed a major exclusive: Joe Rogan's popular podcast, The Joe Rogan Experience. It cost the company more than $100 million, but that may prove to be money well spent.
Source Fool.com
