In the podcasting world, reach == dollars. With a declining audience, his show will generate declining revenue for Spotify, and eventually he will receive less money because of it.
Keep in mind, Rogan said multiple times on his show he would never sell out because he wanted to do whatever he wanted to do... then he sold out to a platform that immediately cut off a large portion of his viewership.
Yeah I'm sure he and howard stern both really regret limiting their audience. He didn't sell out in the traditional sense (product placements, no-go topics, etc)
The people in this thread that think Joe cares about what the viewers think. He publicly said he doesn't care about deleted episodes and censorship, just there to collect Spotify money. Good for him, he has a goal and he is executing it.
