January 31, 2022
A slew of reports claiming that Spotify has had $2 billion wiped off its market value because of the actions of Neil Young and others in opposing Joe Rogan’s content on the platform are fake news.
Variety and others ran headlines over the weekend like “Spotify Lost More Than $2 Billion in Market Value After Neil Young Pulled His Music Over Joe Rogan’s Podcast.”
Spotify Lost More Than $2 Billion in Market Value After Neil Young Pulled His Music Over Joe Rogan’s Podcast https://t.co/CSpsEA1qfo
— Variety (@Variety) January 29, 2022
As pointed out by many on social media, however, the drop in value of Spotify stock is part of a longer downward trend that started before Neil Young uttered a word about Rogan.
Indeed, Spotify’s stock has actually increased in value since the Neil Young driven backlash.
This is cherry-picked bullshit. The market in general was way down this week, but in the last two days of trading, since they announced Young was gone and Rogan is staying, their stock is actually up slightly.
You moronic hacks have no shame! pic.twitter.com/duTagP9uRe
— John Ziegler (@Zigmanfreud) January 29, 2022
Point to when Neil Young pulled his music on this graph of their stock. pic.twitter.com/KoyZls0bwS
— John sully (@Lonewolfzor) January 29, 2022
That's the point…that is a 30 day chart. @NeilYoung pulled his music on 1/26. He had zero impact on @Spotify – the only person impressed with #NeilYoung is Neil Young. Just another thumb sucking liberal.
— 1320Connect – Run The Number (@1320Connect) January 30, 2022