A singer’s action caused $ 2 billion in damage to Spotify!

According to the Fars News Agency media reporter, quoting Variety, Spotify lost more than $ 2 billion in market value after American singer Neil Young removed his songs from the platform in protest of Joe Rogen’s anti-vaccination podcast.

Spotify’s market value in the three-day period this week was about $ 2.1 billion after American folk singer Neil Young pulled his songs out of audio giant Spotify in protest of Joe Rogan’s misinformation podcast. The dollar fell.

Spotify shares fell 6 percent from January 26 to 28. During the same period, the Nasdaq Composite Index rose 1.7 percent and the Dow Jones Industrial Average rose 1.1 percent. By comparison, Netflix shares improved slightly after gaining earnings on January 20, rising 4.9 percent in the past three days.

Shares of Spotify closed at a 19-month low on Thursday (January 27th) at $ 171.32 per share. This came after Young announced on Wednesday that he had asked the company to give up his music, writing: “Spotify has recently become a very harmful force through its public misinformation and lies about Quid.” He did not name Rogan, but cited an open letter from doctors and health professionals released earlier this month urging Spotify to crack down on Corona virus-related lies in “Joe Rogan’s Experience.”

End of message /

You can edit this post