"The worry is that this doesn't end what's been an nightmare situation for Spotify."
"The worry from an investor perspective is that it cascades into more artists potentially pulling their music and following the path of Neil Young," said Daniel Ives, a managing director with Wedbush Securities. On Monday, key people leading the popular science podcast "Science Vs" wrote a letter to Spotify Chief Executive Daniel Ek, saying the company's support of Rogan's podcast felt like " a slap in the face." And on Tuesday, two more music artists, Graham Nash and India Arie, left Spotify. Still, the controversy isn't going away as Spotify continues to face scrutiny, from inside and outside the company, over its policies about misinformation. Spotify and Rogan issued responses to the controversy on Sunday, quelling some of the concerns raised about podcast episodes that discuss COVID-19 with guests who have been largely discredited by the medical community. Major pop stars did not quit Spotify, and app analytics data indicates Young's protest did not diminish new signups. "This was, 'Thanks, Neil.'"Īlthough smaller rival streaming services received a boost from fans of Young and other artists who joined his protest, the effect of the boycott on Spotify has been minimal so far, analysts said.
"Sometimes you see things and you wonder what caused it," Mackta said.
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