JAKARTA - Spotify Technology (SPOT.N) shares fell 5% on Friday, February 18 after Joe Rogan's podcast was not immediately accessible on the company's streaming platform. However, the podcast is now accessible and Spotify did not immediately respond to a request for comment as to why there was an interruption.
Previously, Spotify had come under fire after Joe Rogan, who signed a $100 million deal with Spotify in 2020. But in another statement, Joe Rogan actually earned $200 million. Even though this podcaster from the US has broadcast a lot of controversial COVID-19 shows on his show and has drawn protests from artists Neil Young, Joni Mitchell, and India Arie.
Spotify's Chief Content Officer, Dawn Ostroff, told advertisers at a conference last week that the reaction around Rogan's podcast has been a "real learning experience" for the streaming service.
The company's stock, which has fallen about 59% since hitting a record high almost a year ago, was trading at 151.16 dollars on the New York Stock Exchange.
This is certainly a major blow to Spotify, which is considered to be "nurturing" Joe Rogan at a time when many have criticized his podcast broadcasts.
However, whether it was anti-Joe Rogan sentiment that caused Spotify's stock to drop, is not yet clear. However, protests from other artists, over the presence of Joe Rogan on Spotify, have shown a rejection of Spotify's policy in paying attention to user complaints.
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