Spotify Technology SA’s $100 million bet on Joe Rogan has put the audiostreaming company in business with one of podcasting’s most popular—and polarizing—voices. Amid controversy, executives are standing by that voice.

The deal to bring Mr. Rogan to Spotify is already showing signs of success. His millions of loyal fans have made “The Joe Rogan Experience” podcast Spotify’s No. 1 show since arriving on the platform in September, “outperforming our audience expectations,” the company said when reporting its earnings Thursday….

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