In the first three weeks of the year, individuals with accounts at Bank of America have bought $2.3 billion more in stocks than they have sold, the bank said. This weekend, the star podcaster Brené Brown, who signed an exclusive deal with Spotify in 2020, said that she would not release any more episodes “until further notice.” Prince Harry and Meghan Markle, who also have an exclusive deal with Spotify, said that they expressed concerns about coronavirus misinformation on Spotify’s platform to the company last April.Īnd small investors bought the dip. What artists think: Last week, Neil Young and Joni Mitchell pulled their music from the platform. To some, that puts an extra onus on Spotify to act like a media company and take responsibility for content.
But commentators like Peter Kafka of Recode note a key difference between Spotify and those companies: Spotify directly paid a reported $100 million for the exclusive rights to Rogan’s podcast, and the company has noted that his show has increased its ad revenue. The streaming service says it isn’t responsible for moderating content posted on its platform, much as social networks like Facebook have argued for years. Over the weekend, Spotify’s C.E.O., Daniel Ek, said that the service would add a “ content advisory” to some podcasts and Rogan pledged to “ balance things out.”Īt root for Spotify is a question that confronts many tech giants in the streaming and social media age: Is it a platform or a media company? Spotify has faced increasing pressure as high-profile artists have pulled their songs from the streaming platform to protest its hosting of Joe Rogan’s popular podcast, which has been criticized for spreading misinformation about the coronavirus.
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