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British Summer Time 2014 – July 12th Neil Young removed his music catalog from Spotify in a public protest against Joe Rogan’s podcast last week, which resulted in both support and criticism from the public. Plenty of fans vowed to cancel their Spotify accounts in solidarity and no doubt some followed through with that threat. But now some Twitter users are crying foul over how mainstream media is reporting on the financial implications of the event.
“Spotify Lost More Than $2 Billion in Market Value After Neil Young Pulled His Music Over Joe Rogan’s Podcast,” a Variety headline announced Saturday. Many other publications had similar declarations, which appeared to link the two events. But the text of the article, commenters pointed out, led to different conclusions.
“This is cherry-picked bullsh**,” Mediaite journalist John Ziegler shared alongside a chart of the overall stock situation for the company.
“The market in general was way down this week, but in the last two days of trading, since they announced Young was gone and Rogan is staying, their stock is actually up slightly. You moronic hacks have no shame!” This is cherry-picked bullshit. The market in general was way down this week, but in the last two days of trading, since they announced Young was gone and Rogan is staying, their stock is actually up slightly.
You moronic hacks have no shame! pic.twitter.com/duTagP9uRe
— John Ziegler (@Zigmanfreud) January 29, 2022 “Point to when Neil Young pulled his music on this graph of their stock,” another Twitter user quipped alongside a photo of the stock plummeting over a longer period of time.
“You mean Spotify stock is down, kinda like the entire NASDAQ is down 20% in the same time frame? Is that Rogan’s fault as well? Critical thinking fail. But then again you weren’t really thinking at all, […]
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