Spotify Lost Over $2 Billion In A Week Amid Joe Rogan Saga
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Streaming giants Spotify have lost $2 billion in market value after Neil Young removed his music from the platform in protest against Joe Rogan.
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Young pulled all his songs earlier this week and said Spotify was 'spreading false information' about COVID-19 with guests feature on the Joe Rogan Experience podcast.
Variety have claimed Spotify shares dropped by six per cent between January 26 and January 28 after Young made his announcement.
January had already seen Spotify report a 25 per cent decrease in share value.
Young said in a statement: "I am doing this because Spotify is spreading false information about vaccines – potentially causing death to those who believe the disinformation being spread by them.
"They can have Rogan or Young. Not both."
Rogan signed a multi-year contract with Spotify in 2020 and the deal is said to be worth around $100 million.
The podcast became exclusive to Spotify and they obtained a backlog that included 11 years worth of episodes.
Over the last few weeks, UFC commentator Rogan has hosted podcasts with Dr. Robert Malone and Peter McCullough who are vaccine sceptics.
Malone even suggested the American public are being 'hypnotised' into wearing masks and getting vaccinated against the virus.
We need to talk about the vaccines - UnHerd https://t.co/1OvW1pzD2a
— Joe Rogan (@joerogan) January 20, 2022
270 scientists came together and wrote a letter to Spotify expressing their disgust at what was being shared on Rogan's show.
The 54-year-old has made a number of controversial comments over the years and close friend, UFC president Dana White, believes he will never be 'cancelled' for them.
White said during an appearance on the FULL SEND podcast: "You’re not cancelling Rogan. The thing is with Rogan, he's a brilliant guy, he does his homework, and he knows what he's talking about.
Watch: UFC President @danawhite Is Asked About The 200+ Doctors Demanding Spotify Censor @joerogan...
— Covid-1984 (@Orwells_Ghost_) January 16, 2022
And Then It Gets Good... 👇 pic.twitter.com/olSbtHv6Fi
"And guess what? This is f***ing America, and you can have your own opinion about these things, and you can voice them.
"That's what this f***ing country was built on.
"And all these little whiny f***ing p*****s that don't like it, too f***ing bad."
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