SPOTIFY AND NEIL YOUNG DEBACLE AND A FOUR BILLION DOLLAR LOSS
The loss the stream line suffered couldn’t be solely tied to Neil Young’s discontentment
Spotify was reported to have lost $4 billion in market value in a week after rock icon Neil Young called out the company for allowing comedian Joe Rogan to use its service to spread misinformation about the COVID vaccine on his popular podcast.
Although, the streaming line said it had removed more than 20,000 podcast episodes related to COVID. But stood by Rogan, who was reportedly paid more than $100 million by the service to retain exclusive rights to his podcast.
In a different tune, The whole stock market went through a rocky patch last month. The believe that Spotify lost 4 billion over Neil young comment isn't entirely sacrosanct.
A rival streaming platform, Netflix fell just as much at the exact same period. But the dip for Netflix isn't last month, the dip happened last week even if there are indications since the end of 2021.
Its difficult to believe 2 billion worth of subscribers left Spotify over Neil Young's. Because Apple+, Disney+, Netflix and Hulu all lost billion which makes it a likely dip.
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