Why Joe Rogan Is a $100 Million Bargain for Spotify
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Signing Rogan to an exclusive deal has coincided with Spotify adding $3 billion to its market cap
Spotify’s exclusive podcasting deal with Joe Rogan, which the Wall Street Journal reported to be worth more than $100 million, already looks like a bargain for the streaming giant.
Here’s what that means: When Rogan tweeted he would be taking his podcast to Spotify at 11:30 a.m. PT on Tuesday, Spotify’s stock was trading at $169.35 per share. The company’s stock price spiked during the rest of the trading day on Tuesday, closing a hair above $175 per share; that surge carried over to Wednesday, with Spotify’s stock price leaping another 8.5%, to $189.80 per share.
That run, following Rogan’s tweet, translates to more than $3.0