FT News Briefing Spotify responds to the Joe Rogan fiasco
Feb 3, 2022
Spotify faces backlash from the Joe Rogan controversy, resulting in disappointing subscriber growth predictions. Investors push for higher interest rates as Eurozone inflation reaches a record 5.1%. Meanwhile, Argentina's political landscape unravels after a key leader's resignation over an IMF debt deal, raising fears of economic instability. The nation grapples with declining reserves and the threat of default, deepening the crisis amid internal political strife.
AI Snips
Chapters
Transcript
Episode notes
Spotify's Stock Drop
- Spotify's share price dropped 23% despite increased revenue.
- This was due to a weaker forecast for subscriber growth this quarter, causing investor concern.
Impact of Joe Rogan Controversy
- Spotify stated that it's too early to tell if the Joe Rogan situation will impact their business.
- Their weaker forecast doesn't include any potential impact from the controversy.
Content Warning Effectiveness
- Spotify added content warnings to COVID-related content.
- The effectiveness of this action is uncertain and depends on individual perspectives.