31 January 2022

OK Joe ...about that "Outta-Control-Juggernaut" after Spotify Lost $2.1 Billion Market Cap

What a surprise! Topline
Updated Jan 31, 2022, 04:24am EST

"Joe Rogan on Sunday addressed the controversy surrounding his podcast on Spotify, acknowledging that his show has grown into an “out-of-control juggernaut” and promised to offer more balanced perspectives in the future, after his show and host platform Spotify faced widespread criticism and a burgeoning boycott for platforming Covid-19 misinformation.

Joe Rogan Apologizes Over Spotify Podcast Controversy, Says He Will Try ‘Balance Things Out’ In The Future

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Joe Rogan on Sunday addressed the controversy surrounding his podcast on Spotify, acknowledging that his show has grown into an “out-of-control juggernaut” and promised to offer more balanced perspectives in the future, after his show and host platform Spotify faced widespread criticism and a burgeoning boycott for platforming Covid-19 misinformation.

“I will do my best to try to balance out these more controversial viewpoints with other people’s perspectives so we can maybe find a better point of view,” Rogan said. “I don’t want to just show the contrary opinion to what the narrative is. I want to show all kinds of opinions so we can all figure out what’s going on and not just about Covid, about everything, about health, about fitness, wellness, the state of the world itself.”

Earlier on Sunday, faced with a growing subscriber boycott and a tumbling stock price, Spotify CEO Daniel Ek outlined measures undertaken by the platform to “combat misinformation.”

Ek tweeted that the music streaming giant has “heard the criticism” and said Spotify will add a content warning to episodes talking about Covid-19 and link to coronavirus podcasts from reputable news sources going forward. Under Spotify’s new policy, Covid-19 misinformation will only be banned under four circumstances—saying that approved vaccines are intended to kill people, claiming Covid-19 is not real, encouraging people to intentionally get Covid-19 or promoting the consumption of bleach for medical treatment. Over the past two weeks, Spotify has been urged by doctors and scientists to establish a clear misinformation policy in response to “baseless conspiracy theories” and “misinformation” on the  “The Joe Rogan Experience” podcast. Following this musicians— Neil Young, Nils Lofgren, and Joni Mitchell—asked Spotify to take down their music library as they did not want to share the platform with Rogan’s “fake information.”

$2.1 billion. That’s the approximate drop in Spotify’s market cap that took place between last Wednesday and Friday, following the removal of Neil Young’s music from the platform."

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