![]() Last week, famed musician Neil Young began a very public spat with the world's largest music streamer over its support for podcast host Joe Rogan. The transition, which began in earnest with the combined $404M acquisitions of Gimlet, Anchor, and Parcast in 2019, has now created the most significant negative PR cycle for the company since its public spat with Taylor Swift seven years ago.īy the time you're reading this, you've likely heard the particulars of the story – but here's a quick summary just in case. In the third chapter of my deep dive on the modern music industry, Streaming's Endgame, I spent considerable time discussing the monumental shift occurring with Spotify's pivot to aggregate the world's audio. What ails the company now, however, may be far more substantive: after creating a booming market for IP acquisition, the world's leading video service is demonstrating just how precarious the zero-sum game of content ownership can be.Īs it turns out, the story of these two companies – and their current troubles – is far more intertwined than many suspect. Netflix, the dominant aggregator in an adjacent vertical, is no stranger to key-creator controversies. As I'll explain here, there's good reason to believe this will not be the company's last. On the heels of a pivot to audio, Spotify now finds itself embroiled in a headline-grabbing conflict between its two primary creator cohorts: musicians and podcasters. Just over one month in, we've already witnessed the emergence of several major trends that are likely to be with us for quite some time. It's been a lively start to the year in both music and video streaming. In December, a group of 270 doctors and other medical professionals also wrote a letter calling on Spotify to “mitigate the spread of misinformation on its platform” shortly after Rogan featured Dr. Robert Malone, a known vaccine skeptic who has promoted baseless theories about the COVID vaccines, on his podcast.An in-depth look at Spotify's podcast controversy, Netflix Q4 earnings troubles, and the ways in which the turbulence both companies are experiencing is deeply intertwined. Rogan, who hosts the Spotify exclusive podcast The Joe Rogan Experience, has faced backlash for repeatedly sharing misinformation surrounding COVID vaccines on his podcast. “I sincerely hope that other artists and record companies will move off the Spotify platform and stop supporting Spotify’s deadly misinformation about COVID.” I have never felt so much love coming from so many,” Young wrote in Wednesday’s letter. “I truly want to thank the many, many people who have reached out to me thanking me for taking this position - people who are health professionals on the front lines, people who have lost loved ones to COVID or who are worried for their own children and families. In a follow-up letter published on Wednesday, Young said that Spotify represented 60 percent of his streaming revenue globally, which amounted to “a huge loss for record company to absorb,” but that he moved forward with removing his catalog because he “could not continue to support Spotify’s life threatening misinformation to the music loving public.” 24, Young said, “I am doing this because Spotify is spreading fake information about vaccines - potentially causing death to those who believe the disinformation being spread by them. In his letter, which was originally published on his website Jan. Spotify to Slash Podcast Workforce, Combine Parcast and Gimlet Studios in New Round of Cuts
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