Joe Rogan trouble? Spotify tries to find middle ground by adding COVID advisory
stockcam/iStock Unreleased via Getty Images

Spotify (NYSE:SPOT) is in damage control mode as listeners, creators and shareholders find themselves on different sides of the fence on what to do about controversial content on its platform. The straw that broke the camel's back was a podcast episode featuring mRNA virologist Dr. Robert Malone on the show of popular host Joe Rogan, who signed a reported $100M deal with Spotify (SPOT) back in 2020. Neil Young, Joni Mitchell and Nils Lofgren have all pulled their music from Spotify (SPOT) in response, while calls to boycott the platform grew on social media with hashtag #DeleteSpotify.
The solution? Looking to pacify both sides of the free speech vs. harmful misinformation debate, Spotify (SPOT) will add a disclaimer to any podcast episode that addresses COVID-19. "This advisory will direct listeners to our dedicated COVID-19 Hub, a resource that provides easy access to data-driven facts, up-to-date information as shared by scientists, physicians, academics and public health authorities around the world, as well as links to trusted sources." Spotify (SPOT) also published platform rules that will govern what content is and isn't allowed on its service, which will be updated regularly to reflect the changing safety landscape.
Rogan is a fan. He likes the advisory instead of a 'misinformation' ban, saying it would allow users to decide their opinion, even if it goes against the current consensus of medical experts. "The problem I have with the term 'misinformation,' is that many of the things we thought of as misinformation a short while ago are now accepted as fact. For instance, eight months ago, if you said 'if you get vaccinated you can still catch COVID and you can still spread COVID' - they would ban you from certain platforms. Now, that's accepted as fact. If you said, 'I don't think cloth masks work' - you'd be banned from social media. Now, that's openly stated on CNN. If you said, 'I think it's possible that COVID-19 came from a lab' - you'd also be banned. Now, that's on the cover of Newsweek."
Go deeper: Shares of Spotify (SPOT), which commands nearly a third of the global music streaming market, inched into the green on Monday, after sliding 12% last week, and erasing more than $3B in market value. The stock has fallen about 26% YTD, 48% over the past 12 months, and hit a 52-week low of $164.41 on Friday amid the controversy. Closest rival Apple Music (NASDAQ:AAPL) was also quick to capitalize on the hullabaloo, highlighting that it was "the home of Neil Young" and his entire catalog was available on the platform.