The Joe Rogan Experience or JRE premiered exclusively on Spotify Inc. SPOT in Sept. 2020 as part of a multi-year deal reportedly valued at $200 million. This deal wasn’t just big news for podcasting fans—it was a major moment for investors, too.

Rogan’s Impact On Spotify’s Growth

Spotify’s exclusive deal with Rogan was a bet that paid off in multiple ways. Since the partnership, podcast consumption on the platform skyrocketed by 232%, according to the company.

Advertisers took notice, fueling a 2023 revenue increase of 80% since 2021. Rogan’s show, consistently the world’s most-streamed podcast, played a major role in turning Spotify into a podcasting giant.

Rogan’s podcast also held the top spot on Spotify’s podcast chart for the fourth year in a row in 2023.

See Also: Tradepulse Power Inflow Alert: Spotify Technology S.A. Climbs Over 5% After Tradepulse Alert

How $1,000 Invested In Spotify Has Grown

If you had invested $1,000 in Spotify stock on Sept. 1, 2020 — the day Rogan’s show debuted exclusively on the platform — that investment would now be worth approximately $1,696.

This represents a solid return of 69.7%, outpacing the broader market indexes. For context, the S&P 500 rose 68.7%, and the Nasdaq Composite gained 60% over the same period.

A New Chapter For JRE And Spotify

Earlier this year, Spotify renewed its partnership with Rogan, but the show will no longer be exclusive to the platform, expanding to Apple, Amazon, and Google’s YouTube.

Earlier this month, Spotify released its third-quarter financial results reporting earnings of $1.46 per share, which fell short of the analyst consensus of $1.76.

Quarterly revenue came in at $3.99 billion, missing the expected $4.02 billion but reflecting an increase from $3.65 billion in the same quarter last year.

SPOT Price Action: Spotify shares ended Thursday’s session up 2.17%, closing at $477.50. In after-hours trading, however, the stock dipped slightly, settling at $476 as of the latest update, according to Benzinga Pro.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.