BREAKING: Spotify stock soars after Joe Rogan announces he's joining platform

Spotify ($SPOT) stock jumped by seven dollars following the announcement from Joe Rogan that his podcast, The Joe Rogan Experience, would be moving exclusively to Spotify.

Spotify ($SPOT) stock jumped by seven dollars following the announcement from Joe Rogan that his podcast, The Joe Rogan Experience, would be moving exclusively to Spotify.

"The talk series has long been the most-searched-for podcast on Spotify and is the leading show on practically every other podcasting platform," Spotify said in a release.

Rogan announced the move earlier on Tuesday, saying that he signed a "multi-year licensing agreement" that is slated to start September 1. Rogan said that by the year's end, episodes will become exclusive to Spotify, including the video version of the podcast.

"The only difference will be, it will now be available on the largest audio platform in the world," said Rogan.