Spotify lost over $2 billion in market value the past week
After the massive controversy last week, Joe Rogan has made some resolutions. The podcaster started by admitting that he is not always right about the stuff he says on his podcast. He then promised to “do better” on the things he discusses in the future.
The Joe Rogan Experience podcast had spread information about the pandemic and vaccines in the past. This was the argument that singer Neil Young accused Spotify of as he demanded his songs to be removed. The ‘Rock and Roll Hall of Fame’ artiste wrote an open letter to Spotify for spreading fake information about vaccines. He added that this could cause potential death to those that believe them.
Rogan, a self-proclaimed Neil Young fan said that he was “very sorry” that Young and Joni Mitchell pulled their songs from the site. He admitted that his podcast is “not that prepared or fleshed out.” He also thanked the people at Spotify for being supportive at this time.
However, Spotify might have made a huge mistake by keeping Rogan and letting the artists leave. The company saw a loss of over $2 billion since they lost Young, with more losses expected.
Neil Young’s songs were officially removed on January 26. Young, however, was not done warning how dangerous Spotify has become. He referred to an open letter written by doctors and healthcare professionals on Jan. 11. Spotify had been warned to look into all the coronavirus-related falsehoods that were released via Rogan’s podcast.
Hashtags such as #CancelSpotify, #ByeSpotify, and #DeleteSpotify continue to trend even today. More artists are expected to leave, either in response to the coronavirus misinformation, or in solidarity of Young.