After signing a lucrative new talk show contract with Spotify and Netflix, wellness-creator-turned-entertainment-mogul Jay Shetty has big business plans and Hollywood aspirations.
IfJay Shetty was going to level up his podcast, he figured he needed to upgrade the studio in which he records it. So before his seven-year-old show, ‘On Purpose,’ relaunched this month on Netflix, the 38-year-old self-help guru says he spent around $500,000 to renovate the space with specific colors and custom artwork (such asincluding a piece of glass covered in bubble wrap) to evoke the kind of vulnerability and fragility he hopes to encourage from his guests.
Sitting inside his sprawling Hollywood Hills home, worth an estimated $8 million, Shetty’s digs are a far cry from the Hindu monk principles of humble detachment he once practiced and has encouraged to display. But for a star in media’s hottest category—who recently signed a new podcast deal with Spotify and Netflix that will pay him a combined $100 million over the next three years—the studio and residence are fitting.
“I mean, I’m not a monk anymore,” Shetty tells Forbes. “Today I consider myself an entrepreneur and a leader in this space, and that allows me to have the ability to use money as a resource to do good in the world and create impact in the way that we’ve chosen to do that.”
For top podcasters like Shetty, the money has also never been better. The entry of video platforms such as Netflix, Hulu and Tubi into a still-frothy marketplace of audio distributors (including Spotify, SiriusXM and Amazon) have pushed paydays into territory once reserved for movie stars. Shetty earned an estimated $21 million over the past 12 months from his previous podcast distribution and ad sales agreement with iHeart Media (before paying taxes and fees to agents and managers) and he is in line to make far more from his new deal.
Read the full story on Forbes:
https://www.forbes.com/sites/mattcraig/
0:00 – Jay Shetty’s $100M Move to Netflix
2:23 – Building a “Conscious Empire”
4:51 – Why the Self-Help Genre is Booming
8:31 – From Monk Life to Multi-Millionaire Entrepreneur
11:23 – How to Get A-List Celebrities to Open Up
16:07 – The Future of Media & Scaling the Business
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