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,” according to Variety. 

• 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. “I 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,” Rogan said, reports CNBC. He further defended his show by saying he has never tried to spread misinformation, he just wants to “talk to people.”

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.