Spotify and Netflix have signed a $100 million podcast deal with Jay Shetty.

      **Summary:** 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 who has transitioned into a self-help podcaster, will present the video format of his show On Purpose on Spotify and Netflix. Sources familiar with the deal inform that it could be worth as much as $100 million over several years, placing Shetty in an elite financial bracket alongside Joe Rogan and Alex Cooper. While existing episodes and promotional clips will remain available on YouTube and other platforms, new full-length video episodes will only be available on the two streaming services. Spotify will handle advertising for the podcast. Both platforms have confirmed the partnership but refrained from discussing the financial specifics.

      **The First Collaborative Initiative between Spotify and Netflix**

      This collaboration represents the inaugural signing of a single creator by both Spotify and Netflix. These two platforms already share a history, with Spotify hosting several of its podcast programs on Netflix and Netflix co-CEO Ted Sarandos being a member of Spotify’s board. Netflix began incorporating podcasts into its service in January 2026 through partnerships with iHeartMedia and Spotify, launching 34 licensed and original shows in its debut month.

      The joint agreement serves distinct purposes for both companies. Spotify gains access to an exclusive advertising partnership with a leading podcast, enhancing its advertising revenue model. Meanwhile, Netflix acquires video content to enrich its daytime programming, helping to cover content gaps that scripted and unscripted originals cannot fill effectively. Aspects like podcast subscriptions and ad-supported models are becoming increasingly integral to both platforms' strategies for user retention and engagement.

      **The Impact of Video on the Podcast Landscape**

      This deal signifies a fundamental shift in the consumption and valuation of podcasts. Video content currently accounts for 41% of net podcast advertising revenue in the U.S., up from 28% in 2024. The global podcast industry is estimated to have generated $9.2 billion in sales in 2025, reflecting a 23% year-on-year increase, as reported by research firm Owl & Co. Of this total, direct advertising contributed $5.3 billion, while consumer subscriptions accounted for $2.2 billion.

      YouTube has primarily gained from the surge in video podcasts, establishing itself as the go-to platform for audiences preferring to watch interviews rather than just listen. Spotify learned this during the Rogan period when exclusive audio agreements fell short of reaching the entire audience, as many listeners had transitioned to YouTube for video content. The Shetty deal aims to counteract this trend by shifting a prominent video podcaster from YouTube to platforms capable of monetizing content via subscriptions and targeted ads.

      Previously, Shetty partnered with iHeartMedia for ad sales and did not share his video episodes on Spotify. His podcast, On Purpose, has been running for seven years and has developed into one of the leading interview podcasts in the self-help and wellness niche, featuring guests like Oprah Winfrey, Michelle Obama, and Tom Hanks.

      **Expanding Shetty’s Media Presence**

      The podcast agreement is part of a larger initiative by Shetty to expand his presence within the Netflix ecosystem, with two additional projects in development—one scripted and one unscripted—through his production company. Furthermore, in 2022, Shetty was named chief purpose officer of the mental wellness app Calm and led guided meditation sessions during a theater tour across the U.S. He is cultivating a media brand that spans podcasting, streaming, live events, and wellness products.

      At 38, the London-born creator represents a particular type of podcaster that streaming services are keen to sign. Spotify has been developing tools to enhance creator monetization, including podcast clips, chapter markers, and sponsorship management. Nevertheless, significant deals predominantly revolve around exclusive content agreements locking specific creators into particular platforms, mirroring the tactics that fueled the music streaming competition a decade ago.

      **The Competitive Landscape Among Streaming Services**

      Spotify and Netflix are not the only entities vying for podcasters. Tubi, the ad-supported streaming service owned by Fox Corp., has secured agreements with YouTubers and podcasters to introduce their programs on its platform. Additionally, Hulu has licensed podcasts to diversify its catalog, while Netflix has initiated its own original podcast programming, such as The Pete Davidson Show.

      The economics behind these deals illustrate how streaming services prioritize content efficiency. Podcasts are less expensive to produce than scripted shows, cultivate loyal audiences, and occupy viewing slots that premium content cannot efficiently cover. A $100 million podcast deal spread over several years is a mere fraction of Netflix's expenditure on a season of a high-profile drama, yet the engagement per dollar may be substantially higher.

      For Shetty, this agreement signifies a belief that exclusive distribution on two of the world's leading entertainment platforms will expand his audience quicker than the open distribution model