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Spotify Reports 40% Surge in Advertising Revenue in Q4 2021 - Just Before Joe Rogan Row
Spotify Reports 40% Surge in Advertising Revenue in Q4 2021 - Just Before Joe Rogan Row
Sputnik International
Several artists and subscribers are calling on Swedish audio streaming app Spotify to remove podcaster Joe Rogan from the platform following allegations that... 03.02.2022, Sputnik International
2022-02-03T08:03+0000
2022-02-03T08:03+0000
2022-11-15T09:00+0000
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Spotify witnessed a huge increase in terms of its monthly active users, which reached 406 million, up 18 percent from a year earlier in the last quarter (October-December) of 2021, Wall Street Journal reported.The number of premium subscribers also jumped to 180 million, a 16 percent hike from a year earlier.Company advertising revenue grew to $445 million in the fourth quarter, up 40 percent year-over-year, while the total revenue hit about $3.04 billion.The massive growth in subscribers and advertisers was reported days after the streaming giant landed in a still-developing controversy due to its star podcaster Joe Rogan, who has been accused of spreading misinformation about coronavirus.A number of artists have slammed Rogan, with Canadian singer Neil Young ending up removing his music from Spotify in a sign of protest."They can have Rogan or Young. Not both," the 76-year-old singer stated in a now-deleted letter on his website.On Wednesday, Young's former bandmates Crosby, Stills and Nash said they had asked their labels to remove their recordings from Spotify. Other musicians such as Joni Mitchell and Taylor Swift strengthened their calls to pull their music off the platform.While announcing the company's profit on Wednesday, Spotify Chief Executive Daniel Ek called the whole matter a "very complicated issue" and said Rogan, like other creators on the company's platform, has to abide by its content policies.Ek added that it was too early to tell if the controversy was impacting subscribers. He mentioned that Rogan is the company's No. 1 podcast in more than 90 markets. However, Rogan's subscribers have not been disclosed by the company.Despite the good quarterly numbers, Spotify shares, which went down roughly 44 percent over the past year to $191.92, lost another 11.7 percent in after-hours trading on Wednesday.On Sunday, Ek announced that Spotify would begin to tag COVID-19-related content with an advisory prompting users to check out the service's new hub for data-driven facts and up-to-date information from the health and scientific communities.Rogan has responded to the backlash by insisting that he's "not trying to promote misinformation" and promising that he will do his best "to try to balance out these more controversial viewpoints with other people's perspectives."
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Spotify Reports 40% Surge in Advertising Revenue in Q4 2021 - Just Before Joe Rogan Row
08:03 GMT 03.02.2022 (Updated: 09:00 GMT 15.11.2022) Deexa Khanduri
Sputnik correspondent
Several artists and subscribers are calling on Swedish audio streaming app Spotify to remove podcaster Joe Rogan from the platform following allegations that he's contributing to the spread of misinformation about the COVID-19 pandemic.
Spotify witnessed a huge increase in terms of its monthly active users, which reached 406 million, up 18 percent from a year earlier in the last quarter (October-December) of 2021, Wall Street Journal reported.
The number of premium subscribers also jumped to 180 million, a 16 percent hike from a year earlier.
Company advertising revenue grew to $445 million in the fourth quarter, up 40 percent year-over-year, while the total revenue hit about $3.04 billion.
The
massive growth in subscribers and advertisers was reported days after the streaming giant landed in a still-developing controversy due to its star podcaster Joe Rogan, who has been accused of spreading misinformation about coronavirus.
A number of artists have slammed Rogan, with Canadian singer Neil Young ending up removing his music from Spotify in a sign of protest.
"They can have Rogan or Young. Not both," the 76-year-old singer stated in a now-deleted letter on his website.
On Wednesday, Young's former bandmates Crosby, Stills and Nash said they had asked their labels to remove their recordings from Spotify.
Other musicians such as Joni Mitchell and Taylor Swift strengthened their calls to pull their music off the platform.
While announcing the company's profit on Wednesday, Spotify Chief Executive Daniel Ek called the whole matter a "very complicated issue" and said Rogan, like other
creators on the company's platform, has to abide by its content policies.
Ek added that it was too early to tell if the controversy was impacting subscribers. He mentioned that Rogan is the company's No. 1 podcast in more than 90 markets. However, Rogan's subscribers have not been disclosed by the company.
Joe Rogan Experience is Spotify's highest-rated show, with each episode bringing over 10 million listeners.
Despite the good quarterly numbers, Spotify shares, which went down roughly 44 percent over the past year to $191.92, lost another 11.7 percent in after-hours trading on Wednesday.
On Sunday,
Ek announced that Spotify would begin to tag COVID-19-related content with an advisory prompting users to check out the service's new hub for data-driven facts and up-to-date information from the health and scientific communities.
Rogan has responded to the backlash by insisting that he's "not trying to promote misinformation" and promising that he will do his best "to try to balance out these more controversial viewpoints with other people's perspectives."
