Spotify investors will focus on how much its 'Netflix for audio' strategy is costing the streaming service when it reports fourth-quarter results on Wednesday against the backdrop of several angry high-profile artists withdrawing their tracks.
by Neil Young and Joni Mitchell to pull their music from Spotify in protest over the views about COVID-19 in Rogan's podcasts could enrich rivals and anger its listeners if others follow in their footsteps.Nevertheless, Wall Street analysts expect Spotify's revenue and premium subscribers to keep growing as advertising rebounds from a pandemic slump and more music streamers try out podcasts.
"We expect to hear more on monetization opportunities in podcasts along with plans in audiobooks as SPOT's evolution from music application to audio platform continues, providing a path towards margin expansion," UBS analysts wrote in a client note. Podcasts engage users for longer than music, giving more opportunities to place ads and also keeping the audience hooked. Rogan's podcasts are usually more than one hour long and some run to over three hours, with an estimated audience of more than 10 million listeners.
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'Morning Joe' Scarborough puts blame on Spotify amid Joe Rogan controversy'He'll let anybody come on his show, lie about anybody, slander anybody and spread lies,' Scarborough said about Rogan and his podcast on Monday.
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Joe Rogan responds to backlash from Spotify artists'I'm not trying to promote misinformation, I'm not trying to be controversial. I've never tried to do anything with this podcast other than just talk to people and have interesting conversations,' Rogan said in a video posted to Instagram on Sunday.
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Spotify faces its Facebook moment as musicians boycott platform over Joe Rogan podcastSpotify has found itself in hot water over coronavirus misinformation spread by American podcast star Joe Rogan.
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Joe Rogan responds to Spotify protest, COVID advisoriesSpotify said Sunday that it will add content advisories before podcasts discussing the coronavirus.
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Joe Rogan responds to Spotify protest, COVID advisories'I'm not trying to promote misinformation, I'm not trying to be controversial,' Rogan said. 'I've never tried to do anything with this podcast other than to just talk to people.'
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