Steven Bartlett: Why He Rejected A £100 Million Podcast Deal

Steven Bartlett, founder of The Diary of a CEO podcast, walked away from an estimated £100 million deal with major media networks last year. The 32-year-old entrepreneur, whose show attracts 50 million monthly listeners and has generated over one billion streams, believes his data-driven approach to content creation outperforms traditional media models
Picture of Elizabeth Jenkins-Smalley

Elizabeth Jenkins-Smalley

Editor In Chief at The Executive Magazine

The data-driven entrepreneur turned down lucrative streaming offers to build his media empire on his own terms

With 10 million YouTube subscribers and a social media following of 25 million, Bartlett has built one of the world’s most successful podcasts—second only to Joe Rogan in listener numbers for hosted shows. Today’s recording features an economic debate between Gary Stevenson and Daniel Priestly discussing entrepreneurship’s potential impact on the middle class—content that will eventually amass 3.6 million views and generate over 46,000 comments on YouTube alone.

While compelling content drives audience engagement, Bartlett’s approach to media creation extends far beyond thoughtful conversations. The 32-year-old entrepreneur has meticulously optimised every aspect of his show using sophisticated data analytics. From strategic capitalisation in episode titles to precise camera angles and even his facial expressions in thumbnail previews, each element serves a calculated purpose within his attention-capturing strategy.

Bartlett asserts that no other podcast network, company or media conglomerate worldwide can match his team’s capabilities for growing podcasts using modern platforms. This unique approach has propelled his media venture to extraordinary heights.

From Hobby Project to Media Powerhouse

The Diary of a CEO began modestly in 2017 as a personal project allowing Bartlett to explore the mindsets of fellow business leaders. Seven years later, the podcast boasts more than one billion streams, with December 2023 alone delivering 50 million monthly listeners. The show’s guest roster spans entertainment, technology and self-improvement spheres, featuring personalities like Trevor Noah, MrBeast, and numerous experts in fields ranging from longevity science to relationship psychology.

This strategic blend of engaging content and technical optimisation has transformed Bartlett’s hobby into a formidable revenue generator. The podcast franchise reportedly delivered £20 million in 2024 through brand partnerships with companies including LinkedIn, Oracle and Shopify, complemented by speaking engagements and merchandise sales.

Despite this success, Bartlett’s most notable business decision may be what he chose not to do. While podcast contemporaries have secured lucrative streaming contracts—Alex Cooper reportedly signed a £125 million partnership with Sirius XM and Joe Rogan a £250 million deal with Spotify—Bartlett has deliberately maintained his independence. Last October, he travelled to New York for discussions with several major media networks regarding potential partnerships, with estimates suggesting contracts worth approximately £100 million were proposed.

Bartlett’s reasoning for declining such substantial offers stems from a conviction that his approach to content creation surpasses traditional media models. After examining their testing, experimentation and innovation methodologies, he concluded they reflected past approaches to media. By contrast, he views his own operations as embodying the future direction of the industry.

Data-Driven Evolution

The path to podcast prominence was far from guaranteed when Bartlett launched his show in 2017. Without an established social media presence, he relied on analytical rigour and continuous experimentation to build his audience. His methodology included comprehensive A/B testing across multiple variables: keywords, captions, punctuation styles, and even facial expressions in preview images—serious expressions typically generated better engagement than smiles.

Despite this early attention to detail, substantial investment in the podcast only began in 2020. Bartlett identifies a 2023 episode featuring former Google executive Mo Gawdat as a pivotal moment for the show. According to Apple, it became the most shared podcast episode of 2023 in the region. This experience taught Bartlett that the most important factor in podcasting success is not necessarily guest fame or follower count, but rather the value provided to listeners—people share content that truly resonates with them.

Entrepreneurial Foundations

Bartlett’s journey to media success began with early experiences of feeling like an outsider. Born in Botswana to a Nigerian mother and British father, his family relocated to rural England during his childhood, where he struggled with feelings of inadequacy compared to his siblings and cultural isolation at school.

This sense of difference fuelled his entrepreneurial drive. Bartlett acknowledges feeling desperate to fill the void created by these insecurities, believing that achieving something significant might provide the validation he sought. Whether driven by these emotions or pulled forward by ambition—a distinction he finds difficult to separate—success in business offered a path to recognition.

After a brief period at Manchester Metropolitan University in 2013, Bartlett left formal education to launch Wallpark, an online platform that connected students for event sharing and textbook exchanges. Though the venture lasted only a year, it provided valuable insights into digital marketing dynamics and social media potential.

Building on these lessons, Bartlett established Social Chain in 2014, a marketing firm that linked brands with consumers through user-generated content. This venture proved substantially more successful, eventually merging with Lumaland in 2019 to create a publicly listed company valued at £200 million. Bartlett departed from Social Chain the following year due to strategic disagreements with the board, but his reputation led to opportunities including a role on Dragon’s Den and investments in companies like SpaceX and Whoop.

With financial security established, Bartlett considered his next venture. Having achieved financial freedom, he asked himself what he truly wanted to do with his life. The answer was unmistakable and immediate—return to the podcast concept he had launched years earlier.

Technical Innovation

Bartlett invested £50,000 in advanced recording equipment to transform The Diary of a CEO into a professional operation. His production schedule expanded to twice-weekly episodes with comprehensive video content and sophisticated analytics systems.

A particularly noteworthy innovation is Pre-Watch, a proprietary engagement tracking system that monitors 1,000 volunteers who preview episodes before public release. The technology tracks spacebar clicks indicating heightened interest and eye movement patterns that signal waning attention. This data guides editorial decisions to maximise audience engagement in the final product.

Maintaining his independent status allows Bartlett to distribute this optimised content across multiple platforms simultaneously: YouTube, Apple, Spotify, Instagram, TikTok and X—an approach that addresses a fundamental challenge in contemporary media.

Strategic Expansion

Bartlett has now expanded beyond a single podcast through Flight Story, a studio launched in 2023 in partnership with industry veterans Georgie Holt and Christiana Brenton. The company currently produces five distinct podcast shows while developing commercial opportunities around each host, encompassing book publishing, speaking engagements, investment opportunities and merchandise.

This multi-platform approach aligns with industry best practices, according to Spotify executive Karin Bäckmark, who oversees podcast operations across several European markets. Bäckmark emphasises that video content has become essential because it enables platform-agnostic distribution while deepening audience relationships. For Bartlett, this manifests through viral episode segments on social media platforms, complemented by full interviews available on YouTube and audio streaming services.

With his media enterprise firmly established, Bartlett has relocated to Los Angeles to facilitate access to entertainment industry talent while planning a New York headquarters to strengthen connections with media organisations and potential brand partners.

Characteristically forward-thinking, Bartlett has also ventured into artificial intelligence applications. Flight Story has launched an AI-generated podcast featuring Bartlett’s synthesised voice. While the technology admittedly concerns him, he acknowledges that users are aware of the AI generation, and the show still maintains a strong retention rate with 60% of listeners staying through to completion. Bartlett frames technological disruption as inevitable, likening it to a bulldozer that leaves businesses with two options: being struck by the machine or taking control of it. His choice is clear.

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