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Popular streaming app Spotify took a huge dive on Jan. 28th. Shares closed on Nasdaq down 12%. The cause, Rock n Roll icon Neil Young requested to have his catalog taken off the streaming services platform. Due to popular podcast “The Joe Rogan Show” and host Joe Rogan’s misinformation surrounding the Corona Virus (Covid 19).

Hashtags #DeleteSpotify #CancelSpotify were trending on social media after the Neil Young controversy. Neil Young, ultimately gave Spotify a choice, “you can have either Young or Rogan, but not both”. Joe Rogan had Dr. Robert Malone on his podcast last month. Malone has been banned from Twitter over misinformation regarding the coronavirus. He has become a hero in the anti-vaccination community for falsely suggesting that millions had been hypnotized into believing that vaccines work to prevent serious diseases.

A group of doctors and scientists have a petition online calling for Spotify to adopt policies that prevent the spread of misinformation on their platform. Spotify said in a statement last week that it had removed more than 20,000 podcast episodes related to Covid-19 since the start of  the pandemic. But so far the company has stood by Rogan, who was reportedly paid more than $100 million by the streaming service in exchange for exclusive rights to his podcast.

Neil Young attracts 6 million users per month, while Rogan attracts 11 million user per episode.

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Spotify market value drops by $4 Billion

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