![]() Ehrlich noted that Rogan is ‘increasingly becoming a risk’ for the streaming giant. ![]() That includes Bank of America analyst Jessica Reif Ehrlich, who kept her ‘Buy’ rating on SPOT but dropped her price target from $352 to $262. Citigroup analyst Jason Bazinet, for example, upped his rating on Spotify last week, citing projected increases in ad monetization. Which means the next question is, ‘should I buy the dip’?Īs you might expect, bullish projections are quickly emerging. ![]() When specifically asked whether Rogan was impacting subscriber forecasts, Ek simply responded, “Um, no.” And of course, this is Wall Street. It’s worth noting that Spotify CEO Daniel Ek told investors last week that the Rogan controversy isn’t impacting subscriber or overall MAU numbers at all. The projection was issued midway through the quarter and may have incorporated recent unsubscribes. Already, Spotify’s tepid 3 million Q1 projection is troubling and could reflect a raft of defections. But how many will actually pull the trigger? Some Wall Street analysts are looking at this through the same lens as the recent Netflix fiasco involving Dave Chapelle, which didn’t result in massive subscription drop-offs for the on-demand video giant.īut video is a different world than music: a survey conducted by Forrester Research showed that 19% of Spotify subscribers had already canceled their subscriptions or planned to cancel soon. Multiple apologies and promises later, it’s still unclear what the net impact on subscribers will be. That includes Joni Mitchell and Nils Lofgren, though ‘neo-soul’ singer-songwriter India Arie dropped a separate bomb by uploading a video compilation showing the multiple times Rogan has uttered the n-word over a multi-year span. ![]() CNN Sans ™ & © 2016 Cable News Network.Since Neil Young yanked his content from Spotify in protest of Rogan’s ultra-popular podcast, only a few other artists have followed suit. Market holidays and trading hours provided by Copp Clark Limited. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. Your CNN account Log in to your CNN account “I’ve never tried to do anything with this podcast other than just talk to people and have interesting conversations,” Rogan said in a video posted to Instagram on Sunday. “But I’m pleased that Spotify is already implementing several first-of-its-kinds measures to help combat misinformation and provide greater transparency.”Įarlier this week, Rogan responded to the controversy - saying, “he’s not trying to promote misinformation.” “There’s still work to be done,” Ek said. The Spotify CEO also noted that the last several weeks have “presented a number of learning opportunities” for the company. “While Joe has a massive audience… he also has to abide by those policies,” he added.Įk mentioned that Rogan is the company’s No. On Wednesday, Ek said that the company does not “change our policies based on one creator nor do we change it based on any media cycle or calls from anyone else.” Audio-streaming service Spotify Technology SA on Wednesday said it had acquired Kinzen, a firm that has helped it identify harmful content on the platform. Spotify acquires firm that detects harmful content. The advisory will direct listeners to a Covid-19 hub that will include links to trusted sources, the company said. The bigger drop for Spotify stock appeared to coincide with the latest data on U.S. ![]() This was because of Joe Rogan, who has made frequent false and inaccurate claims about Covid-19 and vaccines on his very popular Spotify podcast, “The Joe Rogan Experience.”įollowing the backlash, Spotify said it is adding a content advisory to any podcast episode that includes discussion about Covid-19. Spotify finds itself in a middle of a firestorm after artists such as Neil Young and Joni Mitchell asked the streaming music company to pull their music from the platform last week. Spotify wants Joe Rogan and every musician. Joe Rogan introduces fighters during the UFC 269 ceremonial weigh-in at MGM Grand Garden Arena on Decemin Las Vegas, Nevada. ![]()
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