Spotify (SPOT) - Get Report, streaming service, made headlines when it announced that it signed a deal to acquire comedian Joe Rogan’s popular podcast.
The announcement also had a positive impact on their stock price as their shares were up 8.40% on Tuesday. Both parties - Spotify and Joe Rogan - haven't publicly disclosed the amount of the deal but it's been reported that the deal is worth more than $100 million.
Rogan's podcast, The Joe Rogan Experience, will debut on Spotify on September 1 and will be exclusively available on the platform.
Rogan, who was previously known for hosting the popular game show Fear Factor, started his podcast in 2009. He became a household name in podcasting industry which helped him create a fortune for himself.
Not all podcasters could possibly match what Rogan has done in the podcasting industry, but there are many podcasters who have been doing really well for themselves. They are using their podcast to create wealth.
One of the conventional ways podcasters make money is through sponsorship. Once their podcast becomes popular, popular brands start reaching out to them.
Podcasters often do affiliate marketing with products like Amazon (AMZN) - Get Report , Squarespace, etc. where they get their cut once their followers sign up for the brands they suggest through their platform.
Celebrity podcasters often make money by selling merchandise like hoodie, caps, t-shirts, and more on their platform.
Watch the video above to know more on how podcasters make money.
- Wednesday Coronavirus Update: Moderna's Vaccine Results Questioned
- California Governor Newsom Doesn't Expect Tesla to Leave 'Any Time Soon'
- Jim Cramer: TikTok Is Snap on Fire
- C-Suite: Blue Apron CEO: Using Stay-at-Home Tailwind to Grow Post-Virus
- Ignoring Oil Could 'Come Back to Bite the Market,' Warns Expert
- TheStreet Explains: What Is Market Cap Weighting and Why Should You Care?