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Veteran UFC commentator, Joe Rogan, might not be ending the year on the happiest note. after all, Daniel Ek, Co-founder of Spotify, might feel he’s taken the wrong bet. Even though, as a podcast, The Joe Rogan Experience, remains one of the most listened podcasts of the year. With over 12 million listeners per episode. However, Spotify as a company has dropped numbers since its peak in 2021. And Their plan to appeal to audiences through podcasts from notable celebrities like Michelle and Barack Obama, Meghan Markle, and Kim Kardashian has seemingly backfired. Now, fans and artists believe Spotify has successfully destroyed the music industry through its approach.
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American singer and songwriter, Courtney Jaye raised her voice against Spotify’s over-indulgence to divert the masses towards podcasters such as Joe Rogan. And pissing off artists like Neil Young.
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18 days ago
The recent data suggest that Spotify’s stock is trading below $80 a share. Which is a drastic decline compared to its all-time high share value of $364.59 recorded on Feb 19th, 2021. This means that share value has dropped nearly 80% in a span of a single year.
maybe treating artists + songwriters like dirt, platforming joe rogan and pissing off neil young is not a winning strategy after all? https://t.co/KWXEXettFl
— Courtney Jaye (@TropicaliJaye) December 28, 2022
Despite this shocking turnover, Spotify still secures the top place among its competitors in the music industry. But hardcore music enthusiasts might look for alternatives if the situation doesn’t improve.
The JRE started off as a fun experiment but grew into a cultural phenomenon. JRE became a Spotify-exclusive show after their $200 million deal in 2020. Before that, all episodes were freely available to the masses on YouTube. But, with the success of JRE, Spotify planned to incorporate more such podcasts and ignored songs, which were the core appeal of the streaming platform.
Despite the troublesome narrative surrounding Spotify, Joe Rogan declined an offer from the online video platform, Rumble to jump ship. The former dear factor host declined an offer of $100 million to acquire rights for The JRE, earlier this year and showed loyalty towards Spotify.
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A post shared by Dana White (@danawhite)
But, recently UFC Boss Dana White, joined hands with the popular platform Rumble to promote his latest venture, The Power Slap League.
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However, nobody knows what to expect from the year 2023. As podcasters like Joe Rogan might face turbulence from their owners.
WATCH THIS STORY: Joe Rogan gets fooled by a father-son boxing video
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Vulligundam Ruthwik
282 articles
Edited By: Vineet Nandwana
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