Joe Rogan Gets New Spotify Deal Worth Up to $250 Million

Spotify has reached a new deal with star podcaster Joe Rogan that will allow his hit show to be distributed broadly.

Rogan’s fresh deal—estimated to be worth as much as $250 million over its multiyear term, according to people familiar with the matter—involves an upfront minimum guarantee, plus a revenue sharing agreement based on ad sales.

Under the new licensing agreement, Spotify will sell ads for and distribute “The Joe Rogan Experience” across several podcast platforms, including in a video format on YouTube, the company said Friday. Under his previous...