![]() ![]() They are the latest musicians to take a stand over misinformation on the platform. On Tuesday, David Crosby and Stephen Stills joined Neil Young and Graham Nash in asking their labels to remove their collective recordings from Spotify. 'I want you to let Spotify know immediately today that I want all of my music off their platform. 'Please act on this immediately today and keep me informed of the time schedule,' the statement continues. I am doing this because Spotify is spreading false information about vaccines - potentially causing death to those who believe the disinformation being spread by them. Young posted a since-deleted open letter to his official website that read in part, 'Please immediately inform Spotify that I am actively canceling all my music availability on Spotify as soon as possible. Spotify financial chief Paul Vogel said during the earning's call that company didn't anticipate any material change this year in its user-growth trajectory, according to the Journal. ![]() It fell another 11% in after-hours trading after the company said it wouldn't provide annual guidance. The good quarterly numbers haven't offset Spotify stock price, which is down 44% over the past year to $191.92. ![]() 'We believe we have a critical role to play in supporting creator expression while balancing it with the safety of our users.' 'There’s no doubt that the last several weeks have presented a number of learning opportunities,' Ek said during Spotify’s earnings call Wednesday. Spotify Chief Executive Daniel Ek called it a very complicated issue and said Rogan, like other creators on the company’s platform, has to abide by its content policies. The surge in subscribers and advertisers was announced a week after singer Neil Young demanded that his music be removed from Spotify, citing the streaming service's distribution partnership with Joe Rogan and accusing Rogan's podcast The Joe Rogan Experience of spreading false information regarding COVID-19 and vaccines. Paying subscribers to the Swedish audio streaming giant also rose 16 percent to 180 million, topping the company's expectations.Īverage revenue per user for the subscription business in the recently completed quarter climbed 3 percent to $4.97, while revenue from subscriptions climbed 22 percent to $2.6 billion.Īdvertising revenue shot up 40 percent to $445.5 million, making up about 15 percent of total revenue during this quarter, WSJ reported. In its recently completed quarter, which ended December 31, Spotify reported 406 million monthly active users, up 18 percent from a year earlier, Wall Street Journal reported. Spotify finished 2021 on a high note after reporting a surge in subscribers and advertisers - but the streaming giant could see some headwinds as artists continue to call for the removal of their recordings from the streaming service due over Joe Rogan's COVID controversy. Ek also said it was too soon to tell if the controversy has had impact on subscribers.On Spotify's Wednesday's earnings call, CEO Daniel Ek called the issue complicated and said Rogan has to abide by its content policies.On Tuesday, David Crosby and Stephen Stills joined Neil Young and Graham Nash in asking their labels to remove their collective recordings from Spotify.The surge comes a week after singer Neil Young demanded that his music be removed from Spotify, citing it's distribution partnership with Joe Rogan.Paying subscribers to the Swedish audio streaming giant also rose 16 percent to 180 million, topping the company's expectations.In its recently completed quarter, Spotify reported 406 million monthly active users, up 18 percent from a year earlier.Spotify reports an 18 percent surge in subscribers and 40 percent spike in advertising revenue in final quarter of 2021 - before musicians began pulling songs over Joe Rogan controversy ![]()
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