Spotify and Netflix win Jay Shetty’s video podcast in $100 million deal
Spotify and Netflix have reportedly struck a multiyear deal worth up to $100 million for exclusive rights to the video version of Jay Shetty's podcast, "On Purpose." Under the agreement, video episodes of the podcast will move to Netflix and Spotify starting July 13, transferring content exclusivity previously held by iHeartMedia.
Key Takeaways
- The deal covers the video version of "On Purpose" and is reported to be worth up to $100 million.
- Video episodes of Jay Shetty’s podcast move to Netflix and Spotify on July 13.
- Older episodes and clips promoting new episodes will still appear on YouTube, according to Bloomberg.
- The agreement replaces an iHeartMedia deal that was signed in 2023 and handled ad sales for "On Purpose."
- Shetty has more than 5 million subscribers on YouTube and has interviewed Michelle Obama, Selena Gomez and Kim Kardashian.
Why It Matters
This gives Netflix and Spotify a marquee video podcast property just months after they announced a joint podcast venture. The deal also shows how exclusive video rights are being used to pull premium creators away from YouTube, with "On Purpose" joining a short list of nine-figure podcast contracts alongside Joe Rogan, Alex Cooper, SmartLess and New Heights. Watch for the July 13 move, when the full video episodes shift to Netflix and Spotify while YouTube keeps older episodes and promotional clips.
Read full article at forbes.com