“Irresponsible people are spreading lies that are costing people their lives. However, that came before Joni Mitchell announced that she, too, would be removing her music from Spotify.
Investors have been rattled by signals that Spotify’s growth may be slowing, particularly after Netflix’s warning of a significant cooldown in first quarter subscriber net adds (which precipitated a 24% drop in its share price).Īlso, it’s worth noting is that Spotify’s stock rebounded slightly Friday, closing up 1% to $172.98/share, amid a broader market upturn. 25, the day before Young’s catalog was pulled off Spotify. To be sure, Spotify’s stock price was already on the slide - having plummeted 25% year-to-date as of Jan.
#SPOTIFY STOCK NEIL YOUNG CRACK#
In a post Wednesday, Young wrote that “Spotify has recently become a very damaging force via its public misinformation and lies about COVID” and referred to an open letter from doctors and health professionals issued earlier this month calling on Spotify to crack down on coronavirus-related falsehoods on “The Joe Rogan Experience.” Not both.” Spotify removed Young’s songs on Jan. That came after Young said Monday that he was demanding the company drop his music, saying that Spotify “can have Rogan or Young.
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