Jay Shetty Heads To Netflix And Spotify For $100 Million

PRESENTED BY NUROPOD

Netflix and Spotify have teamed up on an exclusive distribution deal for Jay Shetty’s On Purpose podcast.

Why It Hits: Video podcasts are essentially the new daytime TV, and every streamer is now rushing to develop a programming slate. With Netflix, Paramount+, Tubi, Hulu, YouTube, and others all competing in the space, a new era of bidding wars may already be underway.

Behind The Deal: Shetty, a former Hindu monk turned self-help podcaster, has entered rarefied air with a new multi-year, $100 million deal for his show, according to Bloomberg.

Final Contract: Spotify has been the king of podcasts for years, but Netflix is still new to the game — and spending heavily to gain a foothold in the industry, including by launching its own slate of video podcasts. While the two companies have already struck several mutually beneficial deals — Netflix co-CEO Ted Sarandos sits on Spotify’s board, and Spotify’s Bill Simmons has a slate of shows on Netflix — this marks the first time they’ve directly partnered to land a hit show.

Now, the radio star can be the video star, too.

Next Season: Considering Shetty recently took his podcast on a successful US tour, expect Netflix to livestream some of his marquee events… with guided meditation sessions, of course.

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