A slew of reports claiming that Spotify has had $2 billion wiped off its market value because of the actions of Neil Young and others in opposing Joe Rogan’s content on the platform are fake news.
Variety and others ran headlines over the weekend like “Spotify Lost More Than $2 Billion in Market Value After Neil Young Pulled His Music Over Joe Rogan’s Podcast.”
As pointed out by many on social media, however, the drop in value of Spotify stock is part of a longer downward trend that started before Neil Young uttered a word about Rogan.
Indeed, Spotify’s stock has actually increased in value since the Neil Young driven backlash.
