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šŸŽø Young And Angry

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šŸŽø Young And Angry

Lawtrades
Feb 2, 2022
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šŸŽø Young And Angry

newsletter.lawtrades.com

Spotify erased more than $2 billion in market capitalization this week after legendary musician Neil Young gave the music streaming service an ultimatum: either he goes, or podcast host Joe Rogan goes. Young was protesting Rogan's misinformation about COVID, but Spotify didn't seem to care—siding with the megastar podcaster.

  • Young cited Rogan in saying that "Spotify has recently become a very damaging force via its public misinformation and lies about COVID,ā€ according to Variety.Ā 

  • Rogan reportedly signed a $100 million contract to stream his show exclusively on Spotify.

  • Singer-Songwriter Joni Mitchell has joined Young in pulling her music from the streamer.

A Public Apology

In response to the very public scuffle, Joe Rogan has issued an apology to Spotify, Young, and Mitchell. ā€œI want to thank Spotify for being so supportive during this time and I’m very sorry that this is happening to them and that they’re taking so much heat from it,ā€ Rogan said, reports CNBC. He further defended his show by saying he has never tried to spread misinformation, he just wants to ā€œtalk to people.ā€

The Verdict

Much like Facebook before it, Spotify is claiming itself a neutral platform that doesn't censor content. That being said, investing $100 million to secure exclusivity on your top-performing podcast is pretty tacit approval.

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