Spotify and Netflix have secured Jay Shetty in a $100 million podcast agreement.

      Jay Shetty has secured a deal valued at up to $100 million to exclusively bring the video version of his On Purpose podcast to Spotify and Netflix, starting July 13. This marks the first collaboration between the two companies to sign a single creator.

      Shetty, a former Hindu monk now known for his self-help podcast, has struck this agreement to transition his show On Purpose to only Spotify and Netflix. As reported by Bloomberg, the deal is estimated to be worth as much as $100 million over several years, placing Shetty in the same financial tier as Joe Rogan, whose Spotify contract was for $250 million, and Alex Cooper, who signed a $125 million deal with SiriusXM.

      The show will debut on Spotify and Netflix on July 13. Previous episodes and promotional content will still be available on YouTube and other platforms, but full new video episodes will only be shown on these two platforms. Spotify will handle advertisement sales for the podcast. Both Netflix and Spotify have confirmed the agreement but refrained from commenting on the financial specifics.

      This collaboration represents the first instance of Spotify and Netflix joining forces to collaborate with an individual creator. Their existing relationship includes Spotify featuring several podcast properties on Netflix, like Bill Simmons’ show, and Netflix co-CEO Ted Sarandos being part of Spotify’s board. Netflix began offering podcasts on its platform in January 2026 through partnerships with iHeartMedia and Spotify, launching 34 licensed and original shows in its first month.

      This collaboration benefits both companies differently: Spotify gains an exclusive ad-sales opportunity with a prominent podcast, bolstering its advertising revenue. In contrast, Netflix acquires video content to accommodate daytime viewing hours, addressing a programming gap left by both scripted and unscripted originals. Podcast subscriptions and ad-supported models are increasingly central to how both platforms approach user retention and engagement.

      The deal signifies a fundamental change in how podcasts are consumed and valued. Currently, video makes up 41% of net podcast advertising revenue in the U.S., a rise from 28% in 2024. The global podcast market is projected to have generated around $9.2 billion in revenue in 2025, a 23% increase from the previous year, according to Owl & Co. Direct advertising is anticipated to account for $5.3 billion, while consumer subscriptions are expected to contribute $2.2 billion.

      YouTube has primarily benefited from the surge in video podcasts, becoming the go-to platform for audiences preferring to watch interviews instead of merely listening. Spotify learned this during the Rogan era, when exclusive audio agreements failed to capture the entire audience as listeners shifted to YouTube for video. The Shetty deal aims to switch this trend by moving a significant video podcaster away from YouTube to platforms that can monetize the content through subscriptions and targeted ads.

      Previously, Shetty collaborated with iHeartMedia for ad sales and did not distribute his video episodes on Spotify. His show, On Purpose, started seven years ago and has risen to be among the most popular interview podcasts in the self-help and wellness domain, featuring guests like Oprah Winfrey, Michelle Obama, and Tom Hanks.

      This podcast agreement is part of Shetty's broader expansion into the Netflix ecosystem. His production company has two more projects in the works with Netflix, comprising one scripted series and one unscripted project. In 2022, mental wellness app Calm appointed Shetty as its chief purpose officer, and he conducted guided meditation sessions in U.S. theaters last year. He is establishing a media brand that encompasses podcasting, streaming, live events, and wellness products.

      At 38, the London-born creator typifies the kind of podcaster that streaming services are eager to sign. Spotify has been developing tools to aid creator monetization, such as podcast clips, chapter markers, and sponsor management. However, the most significant deals often hinge on exclusive content contracts that lock in specific creators to particular platforms, a strategy reminiscent of the music streaming wars from ten years ago.

      Spotify and Netflix are not the only companies pursuing podcasters. Tubi, an ad-supported streaming service owned by Fox Corp., has entered agreements with YouTubers and podcasters to feature their programs. Additionally, Hulu, owned by Walt Disney, has licensed podcasts to enhance its library. Netflix has also introduced original podcast programming, such as The Pete Davidson Show.

      The financial implications of these deals illustrate the content efficiency strategies of streaming services. Podcasts are comparatively cheaper to produce than scripted television, cultivate dedicated audiences, and fill viewing hours that premium content cannot effectively manage. A $100 million multi-year podcast deal represents only a fraction of what Netflix invests in a single season of an esteemed drama, yet the engagement per dollar may be considerably higher.

      For Shetty, the agreement signifies a gamble that exclusive access on two of the largest entertainment platforms can grow his audience more rapidly than YouTube’s open distribution model. For Spotify and Netflix, it is a bet that attracting premium creators away from YouTube