Spotify executive who oversaw Joe Rogan podcast deal quits company
Joe Rogan signed a multi-million dollar deal with Spotify in 2020. Max Cutler, Spotify's man-in-charge of exclusive deals with top creators like Rogan, will leave the company in May, according to The Hollywood Reporter.
Cutler's exit comes after a reorganization marked by the the audio-streaming giant laying off 6% of it's workforce. Spotify's Chief Content and Advertising Officer Dawn Ostroff has also left the company and will serve as a senior adviser to help with the transition.
After Cutler, Julie McNamara will be in charge of Spotify’s exclusive licensing deals with top creators like Joe Rogan and will also continue to lead original content and major studio partnerships.
Cutler joined Spotify after the audio-streaming giant acquired his podcast, Parcast for 49 million euros in 2019. Cutler quickly rose through Spotify's ranks and was promoted to the leadership of exclusive licensing deals with top creators last year.
But in recent months, pressure from Wall Street has forced the company to reevaluate its $1 billion-plus podcast investments. A round of layoffs in October 2022 even directly affected staff at Parcast and Spotify’s other in-house podcast studio, Gimlet.
Vowing to return to his entrepreneurial roots, Cutler wrote in a LinkedIn post:
"Bottom line, it's time for disruption and I'm excited about the future of media. As I focus on a smooth transition at #Spotify, I'm grateful for the opportunities they have provided me. Above all, I'm eager to return to my entrepreneurial roots and build once again. Stay tuned for more about my next venture - the future is bright & full of potential."
The future is bright and full of potential. I’m excited to return to my entrepreneurial roots and build once again. t.ly/bTfq
Eight years of amazing friendships, experiences and growth. From founding Parcast to leading Creator Partnerships and Content @Spotify. Grateful beyond measure and excited for the future. twitter.com/business/statu…
Joe Rogan's Spotify deal was worth more than initially reported
Joe Rogan signed an exclusive streaming deal with Spotify in 2020, initially reported to be worth $100 million by the Wall Street Journal. Rogan was reportedly offered a lesser amount initially, which delayed his move to the platform.
However, the New York Times reported in February 2022 that Rogan's deal was worth $200 million, with the possibility of earning even more. CEO Daniel Ek reportedly told employees that the Joe Rogan Experience is essential for the platform to compete with tech giants like Google and Apple.
Report: Joe Rogan was paid $200 million not $100 million for his podcast by Spotify.
Source: @nytimes https://t.co/ui7gjn09Zr
Some Spotify employees have raised concerns about Rogan's inclusion when the podcaster was accused of spreading vaccine misinformation.