When Joe Budden’s licensing deal with Spotify ends in September, he will no longer use the platform to host his hit podcast.
The Joe Budden Podcast has streamed exclusively with the tech company since 2018, but on Wednesday, the host announced with only seven episodes left, “we are approaching the end of our Spotify contract.”
After September 23, Budden said he “cannot tell you where this podcast will be. But as it stands, I can tell you where it will not be, and that is Spotify.”
Spotify initially approached Budden with the offer to exclusively stream his podcast on their platform in 2018. The former rapper and reality tv star started the podcast in 2015 and operated it independently and distributed it on YouTube and iTunes for three years before signing on with the company, who chose to explore expanding into non-music audio programs, Hollywood Reporter stated.
At the time of Budden’s announcement, his podcast was ranked No. 9 and has remained one of Spotify’s most popular shows, regularly in the top 20 on podcast charts.
But apparently, everything hasn’t been peachy keen from Budden’s standpoint. In fact, he has called out the platform on many occasions, with one of his main concerns being the size of his original two-year deal when compared to the amount Spotify has paid to buy podcast studios.
Spotify disclosed The Ringer, another hit podcast, sold for nearly $200 million. But Budden said, “I won’t get into numbers; I have NDAs everywhere,” adding that he was being “paid the least in my most valuable asset.” He also claimed he didn’t get a bonus after his first year as he expected. “I was confused,” he said.
Made to order and shipped to your door.
However, a source told the outlet that Budden was offered a significantly larger deal than the one he had in 2018, which Budden confirmed during an episode. “It is more money than I have ever been privy to in my life,” he said, later adding that the offer comprises more than just the podcast, and if he were to accept, “I would not be able to sleep at night.”
But, after negotiations seemingly fell through, Budden pulled his podcast from the platform. “It was our desire to keep Joe Budden on Spotify,” Spotify said of the JBP in a statement to Variety on Thursday. “As Joe referenced in his show, we made him a considerable offer— one that was significantly larger and many times the value of the existing agreement and reflective of the current market and size of his audience. Unfortunately, we could not come to terms and we respect his wishes to find a new home for his show.” But, Budden called the offer a “bum ass deal” on Wednesday.
In the meantime, Budden wants to assure he is neither angry nor bitter “because the reality is, we both hit our goals,” but his decision is all about having a partner who respects him. “Spotify never cared about this podcast individually,” he said. “Spotify only cared about our contribution to the platform.”
