Joe Rogan Apologizes After Backlash Affects Spotify Shares
It's all about the bottom line!
Joe Rogan is preaching a different tune and says there will be more balance on his podcast amid a backlash against COVID-19 misinformation.
Spotify wiped more than $2 billion off its market value last week because major musicians either pulled their music or threatened to leave the streaming platform due to Rogan’s content.
Spotify said that it would add a content advisory to any episode with a discussion of COVID, the first step into content moderation.
Related: Neil Young Threatens And Pulls Music From Spotify…
Spotify shares were up 2% in pre-market trading on Monday but still at their lowest since May 2020. Joe Rogan’s podcast has been the most listened-to-show on Spotify.
In a 10-minute Instagram video post on Sunday evening, Rogan apologized to Spotify for the backlash but defended inviting contentious guests.
“If I pissed you off, I’m sorry,” Rogan said. “I will do my best to try to balance out these more controversial viewpoints with other people’s perspectives so we can maybe find a better point of view.”
According to the Toronto Sun, Spotify, which reports its quarterly earnings on Wednesday, has spent billions to build its podcast business and currently has over 3 million titles on its platform. Although it has an exclusive license to distribute the podcast, Rogan himself owns the show.
