“At some point, Spotify will have to decided which side it is on. And it’s part of a bigger trend that we’re seeing across all popular cultures and the wider movement that we’re in with extreme polarization,” said disinformation expert Shiri Dori-Hacohen, an assistant professor at the University of Connecticut’s Department of Computer Science & Engineering, where she leads its Reducing Information Ecosystem Threats Lab. “With prominent artists criticizing and pulling their material off Spotify, that’s a very strong statement. Now, investors are questioning whether Spotify’s decision to continue backing Rogan – which the company’s CEO Daniel Ek seemingly confirmed in a February 2 speech to his employees where he insisted that it’s bold ambitions sometimes necessitate backing content they may not support – could cause long-term damage to its stock. The stock, which closed the previous week out at $195.53 on January 21, fell as low as $164.41 on January 28 before rebounding slightly to close that day, and the week, out at $172.98. Spotify sailing in dangerous watersįollowing Young’s January 24th announcement that he was pulling his music, Spotify’s stock experienced a major decline.
And it has since doubled down on its commitment to Rogan’s program, even as singers such as Neil Young – including his former band Crosby, Stills, Nash & Young, Joni Mitchell and India Arie, among others, have given the streaming service an ultimatum to cease Rogan’s harmful content or pull their catalogs from its offerings. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases and the chief medical advisor for the President of the United States, and others regarding the danger of such claims, Spotify continues to air Rogan’s podcast.
Joe Rogan, a celebrity podcaster on Spotify, has made headlines in recent weeks for spreading misinformation about COVID-19 vaccines: wildly ridiculous claims such as the fact that the vaccines can alter your genes that getting vaccinated after having COVID can lead to major side effects that the vaccines are more harmful to children than the virus and that the controversial anti-parasitic drug Ivermectin can cure COVID.ĭespite criticism of Rogan’s claims by Dr. But it can also turn people away, particularly when such content is not only false, but dangerous and life-threatening.Īs Spotify Technology (NYSE SPOT) tries to walk a tightrope between the two extremes, investors are questioning the stock’s long-term prospects, particularly after news that the streaming service experienced languishing subscription growth in its most recent quarter. Britain’s tabloids have long known and ascribed to the fact that sensationalist content can attract attention and subscribers.
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