Spotify loses over $2 billion in market share as JOE ROGAN podcast continues to draw ire

This week’s top stories focused on opinions about the Canadian-American songwriter Neil Young pulling his music from Spotify after claiming that The Joe Rogan Experience the podcast “spread false information about vaccines – potentially causing the death of those who believe this misinformation is being spread by them”. Young said it was him or Rogan which was to disappear, and considering that Spotify paid Rogan somewhere in the realm of $100 million for exclusive rights to the podcast in 2020, it seemed like a losing battle from the start (and it was).

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disturbed singer David Draiman weighed in on the matter, saying “I commend you and @Spotify for making the RIGHT call, preserving #FreeSpeech and not capitulating to the crowd,” while the solo artist and ex-skidrow singer Sebastian Bach called out Draiman, saying “Imagine calling yourself a rocker while siding with a guy who has a podcast on @Neilyoung 😂.” Now it looks like the problem is only getting worse.

According to Variety, Spotify has lost around $2.1 billion in market share over the past few days (the San Francisco Chronicle puts it closer to $4 billion) while its shares fell 6% between the 26th and January 28. Joni Mitchell, whose songs have tens (and sometimes hundreds) of millions of plays on Spotify, also announced that she was leaving the platform. Mitchell said, “I have decided to remove all my music from Spotify. Irresponsible people are spreading lies that are costing people’s lives. I stand in solidarity with Neil Young and the global scientific and medical communities on this issue.”

So could Young and Mitchell encourage more artists to leave the platform? Will metal bands also start leaving? Another interesting take on the situation comes from YouTuber and Sungazer bass player Adam Nely, which emphasizes that ideals and reality are two different things for little artists.

“Even though I’d like to delete my music from Spotify, I really can’t. Book live shows for Sungazer is based on the number of Spotify listeners we have in a given market. At our level, Spotify is the de facto industry source for this analysis.

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“It would be easy to say ‘oh, but you’re a YouTuber with x subscribers!’ That’s not how live music works Buyers are driven by market data, and the only show in town is Spotify, not YouTube, not Apple Music, not Tidal.

“Data is confusing.

“People also VASTLY overestimate what it means to be a YouTuber with x subscribers. I talk to people about music while they’re pooping, that doesn’t mean they’ll want to buy tickets to see my fusion band electronics when we come to Saint-Louis.

“Anyway, the things that can really tip the balance – canceling your premium Spotify subscription, signing up for Apple Music or Tidal. If you’re working at @AppleMusic Where @TIDE, start developing/integrating more data tools for mid-level artists for touring.”

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So I guess the short answer here is “who knows, we’ll see.” Corn Young doing what he did, regardless of what you think, may in fact have moved the needle significantly.

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