Joe Budden’s Podcast On Pace To Make Over $20M This Year

Joe Budden shared a screenshot of his Patreon traffic back in June, inadvertently revealing that he earned over $900,000 on the subscription platform.

However, that was just a fraction of his profits, and he’s since revealed to The New York Times that he’s on track to make over $20 million this year, according to his chief executive, Ian Schwartzman. The Joe Budden Network earned slightly over $1 million per month on Patreon with subscriptions ranging from $5 to $50 per month.

Two weekly episodes of the podcast are released for free, while higher-tiered subscriptions give fans access to additional episodes and other content like spinoff shows. Budden also generates revenue through advertising.

Unlike other podcasters, the Joe Budden Network sells its own ads.

In the early days of the podcast, Budden had a licensing deal with Spotify, which paid the show less than $2 million annually. They had no shares in advertising revenue or stock and had an exclusivity clause with the streaming platform. Eventually, Budden parted ways with Spotify and even turned down a $44 million two-year deal that would’ve required them to remove all content from YouTube.

“The bigger the money gets, the more strings that are attached,” Schwartzman explained. “We wanted someone to acknowledge how valuable we were by showing that they would be comfortable giving us skin in the game.”

Today, The Joe Budden Network isn’t affiliated with any outside podcast network or media company. It employs over 30 independent contractors, making them and the on-air talent the company’s most significant expense.

When the Patreon revenue leaked, Budden joked on Instagram, “Now everybody’s asked for a raise.”