00:00Today on Forbes, why the Diary of a CEO founder turned down a $100 million deal to build a podcast empire.
00:10It's a Monday morning in March and Stephen Bartlett sits in his studio in London's hip Shoreditch neighborhood
00:15to record the latest episode of his hit podcast, The Diary of a CEO.
00:21With more than 10 million YouTube subscribers and 25 million social media followers,
00:26the interview show is one of the most popular in the world.
00:30Only Joe Rogan has more listeners when it comes to hosted podcasts.
00:34On this particular day in March, Bartlett is recording a debate between economics influencer Gary Stevenson
00:40and entrepreneur Daniel Priestley, where they'll argue whether entrepreneurship can save the middle class.
00:46The episode will later attract 3.6 million views and more than 46,000 comments on YouTube alone.
00:53The debate is fiery, but the buzzy content is only partly why millions tune in.
00:58Data plays a vital role, too.
01:02Bartlett, who launched two social media companies before hitting podcast fame,
01:06has already tested and optimized every aspect of the show.
01:10He's calibrated each detail for maximum attention,
01:13the capital letters and exclamation points in the episode's title,
01:16the lighting, the camera angles, even his raised eyebrows in the preview thumbnail photo.
01:21Each factor is part of Bartlett's blueprint to attract viewers.
01:26The 32-year-old Bartlett says,
01:28quote,
01:29I've not met a single podcast network, company, media conglomerate in the world
01:33that can help you grow your podcast using the modern platforms in the way we can.
01:37And grow he has.
01:41Launched in 2017 as a hobby to let Bartlett get inside the minds of other CEOs,
01:46the podcast has attracted more than 1 billion streams,
01:50including 50 million monthly listeners in December alone.
01:53Guests have ranged from comedian Trevor Noah and YouTube titan MrBeast
01:57to a mix of self-help experts including longevity gurus, nutritionists, and sex therapists.
02:03In 2024, thanks to his mix of compelling content and growth hacking,
02:09Bartlett says the franchise generated $20 million in revenue from brand partnerships
02:14with brands like LinkedIn, Oracle, and Shopify,
02:18speaking engagements, and hawking products like hoodies and branded journals.
02:22Now he's out to make even more, and do it as a free agent.
02:27While other podcast royalty have signed mega deals with streaming networks,
02:31like Alex Cooper's $125 million partnership with SiriusXM
02:35and Joe Rogan's $250 million deal with Spotify,
02:39Bartlett is building on his own.
02:42It's not for lack of interest.
02:44Last October, Bartlett flew from London to New York City
02:46to meet with several of the world's biggest media networks
02:49to discuss potential partnerships.
02:52Bartlett won't say who or how much,
02:54but Forbes estimates that $100 million contracts were in play.
02:57Why turn down frothy deals?
03:01For Bartlett, the choice is simple.
03:03He believes he can do it better solo.
03:05He says,
03:06quote,
03:07We looked at what they did in terms of testing, experimentation, innovation,
03:10and I felt like I was looking at the past.
03:13When I see what happens here, I'm looking at the future.
03:15The future was far from certain back in 2017 when Bartlett launched the podcast.
03:22Unknown in the social media sphere, and lacking a significant following,
03:26Bartlett leaned on data analytics and constant experimentation to grow.
03:30Soon, he was A-B testing every aspect of the podcast.
03:34Keywords, captions, punctuation, even whether to smile in the preview photo.
03:39Looking serious usually worked best.
03:41But it was 2020 before he really began investing in the show.
03:46Bartlett says it was a 2023 episode with former Google exec Mo Gaudat
03:50that was a game changer for the podcast.
03:53Bartlett says,
03:54quote,
03:55Apple said it was the most shared podcast episode of 2023 in this part of the world.
04:00He adds,
04:01quote,
04:02That episode taught me that the most important thing in podcasting
04:05isn't actually the amount of followers someone has or how famous they are.
04:09It's ultimately about the value that it gives, because people will share it.
04:15For full coverage, and to see a behind-the-scenes video tour and interview with Bartlett,
04:19check out Alexandra York's piece on Forbes.com.
04:24This is Kieran Meadows from Forbes.
04:26Thanks for tuning in.
04:39Thanks.
04:40Thanks.
04:42Thanks.
04:42Yes.
04:43Thanks.
04:43Thanks.
04:44Thanks.
04:47Thanks.
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