{"id":402975,"date":"2022-02-03T04:15:39","date_gmt":"2022-02-03T01:15:39","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/spotify-stock-drops-20-on-weak-subscriber-numbers-amid-joe-rogan-controversy\/"},"modified":"2022-02-03T04:15:39","modified_gmt":"2022-02-03T01:15:39","slug":"spotify-stock-drops-20-on-weak-subscriber-numbers-amid-joe-rogan-controversy","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/spotify-stock-drops-20-on-weak-subscriber-numbers-amid-joe-rogan-controversy\/","title":{"rendered":"#Spotify stock drops 20% on weak subscriber numbers amid Joe Rogan controversy"},"content":{"rendered":"<p>&#8220;<strong>#Spotify stock drops 20% on weak subscriber numbers amid Joe Rogan controversy<\/strong>&#8221;<\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Spotify\u00a0on Wednesday forecast current quarter subscribers lower than Wall Street expectations, but executives sought to reassure investors that growth had not cratered even as it deals with the fallout from the controversy around The Joe Rogan Experience podcast.<\/p>\n<p>The company\u2019s shares fell as much as 18% in late trading after\u00a0Spotify\u00a0reported the subscriber outlook.<\/p>\n<p>In an interview with Reuters after the report,\u00a0Spotify\u00a0Chief Financial Officer Paul Vogel said this year\u2019s growth rate would not be that much different than last in terms of users and subscribers.<\/p>\n<p>\u201cWhile we have not given full year guidance anymore on subscribers \u2026 we don\u2019t expect a material difference in the net additions for either users or subscribers in 2022 relative to 2021,\u201d Vogel told Reuters.<\/p>\n<p>Shares pared losses and were down between 3% to 9% after the initial shock.<\/p>\n<p>The outlook overshadowed fourth-quarter revenue, which came in higher than analysts\u2019 estimates, as the music streaming company sold more advertisements and newer services such as podcasts, while recording a healthy 16% increase in paid subscribers for its premium service.<\/p>\n<p>Total monthly active users rose 18% to a record 406 million.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"680\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/02\/spotify-drops-20-percent-amid-Rogan-controversy5.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Neil Young holding a guitar and singing in front of a microphone\" class=\"wp-image-21073464\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/02\/spotify-drops-20-percent-amid-Rogan-controversy5.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/02\/spotify-drops-20-percent-amid-Rogan-controversy5.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/02\/spotify-drops-20-percent-amid-Rogan-controversy5.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Singer Neil Young took exception to Joe Rogan\u2019s COVID-19 remarks and demanded his music content be removed from Spotify.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<\/div>\n<p>The company, however, forecast current-quarter paid subscribers of 183 million, below expectations of 184 million. Revenue is expected to meet estimates of 2.60 billion euros.<\/p>\n<p>Spotify\u00a0said it would no longer offer annual guidance on subscribers.<\/p>\n<p>\u201cWhile investors are clearly disappointed in the first quarter gross margin trajectory, the real story is ad revenue growing at nearly double the rate of their sub<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">script<\/a>ion business and that\u2019s where we believe the meaningful upside is over the course of the next several years,\u201d said Rich Greenfield, an analyst at LightShed Partners.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/02\/spotify-drops-20-percent-amid-Rogan-controversy2.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Spotify logo on a smartphone screen in a photo illustration\" class=\"wp-image-21073450\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/02\/spotify-drops-20-percent-amid-Rogan-controversy2.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/02\/spotify-drops-20-percent-amid-Rogan-controversy2.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/02\/spotify-drops-20-percent-amid-Rogan-controversy2.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Spotify forecast lower-than-expected subscriber numbers and said it would no longer offer annual guidance on subscribers.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>The subscription music streaming service has invested over a $1 billion in the podcasting business, led by marquee exclusive shows such as The Joe Rogan Experience.<\/p>\n<p>But the allure of the podcast star also drew condemnation after his show aired controversial views around COVID-19, drawing protests from artists Neil Young and Joni Mitchell.<\/p>\n<p>Rogan, a popular internet commentator, has since apologized and\u00a0Spotify\u00a0said it would start adding content advisories to episodes discussing COVID.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"684\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/02\/spotify-drops-20-percent-amid-Rogan-controversy.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Daniel Ek standing in front a large screen displaying the Spotify logo\" class=\"wp-image-21073492\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/02\/spotify-drops-20-percent-amid-Rogan-controversy.jpg?quality=90&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/02\/spotify-drops-20-percent-amid-Rogan-controversy.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/02\/spotify-drops-20-percent-amid-Rogan-controversy.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Spotify CEO Daniel Ek said the Rogan controversy has been a learning experience for the company. <\/figcaption><figcaption><span class=\"credit\">AFP via Getty Images<\/span><\/figcaption><\/figure>\n<\/div>\n<p>Chief Executive Officer Daniel Ek said the company already has a \u201csizable\u201d content moderation team in place.<\/p>\n<p>\u201cWe have taken action on more than 20,000 podcasts since the start of the pandemic,\u201d Ek told Reuters. \u201cSo that tells you something about the scale of this operation. It\u2019s truly a global operation.\u201d<\/p>\n<p>Ek acknowledged the Rogan controversy at the outset of the earnings conference call, saying it presented learning opportunities. He said he was proud of the steps\u00a0Spotify\u00a0took following the concerns raised by the medical and scientific communities and he says policies were developed with input from internal and external exports.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/02\/spotify-drops-20-percent-amid-Rogan-controversy7.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Vials of COVID-19 vaccine\" class=\"wp-image-21073517\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/02\/spotify-drops-20-percent-amid-Rogan-controversy7.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/02\/spotify-drops-20-percent-amid-Rogan-controversy7.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/02\/spotify-drops-20-percent-amid-Rogan-controversy7.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>His comments about COVID-19 drew controversy for host Joe Rogan and the Spotify platform on which his show is heard.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>\u201cWhile Joe has a massive audience, he\u2019s actually the number 1 podcast in more than 90 markets, he also has to abide by those policies,\u201d Ek said.<\/p>\n<p>Spotify\u00a0said podcast\u2019s share of overall consumption hours on its platform reached an all-time high and it expanded its paid podcast subscriptions in 33 more markets and enabled podcasts for users in Russia, Egypt and Saudi Arabia.<\/p>\n<p>Premium subscribers, which account for most of the company\u2019s revenue, rose to 180 million, beating analysts\u2019 expectations of 179.9 million.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/02\/spotify-drops-20-percent-amid-Rogan-controversy6.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Joe Rogan \" class=\"wp-image-21073508\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/02\/spotify-drops-20-percent-amid-Rogan-controversy6.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/02\/spotify-drops-20-percent-amid-Rogan-controversy6.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/02\/spotify-drops-20-percent-amid-Rogan-controversy6.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Joe Rogan has since apologized for his comments and Spotify said it would start adding content advisories to episodes discussing COVID.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<\/div>\n<p>Quarterly revenue rose to 2.69 billion euros ($3.04 billion) from 2.17 billion a year earlier, and above the 2.65 billion euros expected by analysts, according to IBES data from Refinitiv.<\/p>\n<p>Revenue from users who hear advertisements rose 40% to 394 million euros or 15% of total revenue.<\/p>\n<p>\u201cInvestors largely ignored\u00a0Spotify\u2019s advertising business during\u00a0Spotify\u2019s first few years as a public company, with subscriber growth dominating the narrative,\u201d Greenfield said earlier in a note.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"754\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/02\/spotify-drops-20-percent-amid-Rogan-controversy4.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Dwayne &quot;The Rock&quot; Johnson\" class=\"wp-image-21073546\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/02\/spotify-drops-20-percent-amid-Rogan-controversy4.jpg?quality=90&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/02\/spotify-drops-20-percent-amid-Rogan-controversy4.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/02\/spotify-drops-20-percent-amid-Rogan-controversy4.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Actor Dwayne \u201cThe Rock\u201d Johnson was among those who showed support for Rogan after he apologized.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<\/div>\n<p>\u201cAs\u00a0Spotify\u00a0moved from a music platform to an audio platform (podcasting, live audio, audiobooks), it has unlocked the potential for a robust advertising business that is now too large for investors to ignore.\u201d<\/p>\n<p>Spotify\u00a0ventured into podcasts in 2018 with a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of acquisitions to compete with Apple Inc. Since then it has launched a paid subscription platform for podcasters in the US, opened it up for advertising, and became the largest podcaster dethroning Apple.<\/p>\n<p>Unlike the music business, which is largely commoditized and low margin as it pays out a part of the revenue to the rights holders, podcasts engage listeners for hours on end, creating valuable advertising inventory that has underpinned the optimism by Wall Street over its long term future.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/02\/02\/spotify-stock-drops-20-on-weak-subscriber-numbers-amid-joe-rogan-controversy\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Spotify stock drops 20% on weak subscriber numbers amid Joe Rogan controversy&#8221; Spotify\u00a0on Wednesday forecast current quarter subscribers lower than Wall Street expectations, but executives sought to reassure investors that growth had not cratered even as it deals with the fallout from the controversy around The Joe Rogan Experience podcast. The company\u2019s shares fell as&#8230;<\/p>\n","protected":false},"author":1,"featured_media":402976,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/02\/spotify-drops-20-percent-amid-Rogan-controversy3.jpg?quality=90&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[125341,70237,72359,23504],"class_list":["post-402975","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-2-2-22","tag-corporate-earnings","tag-joe-rogan","tag-spotify"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/402975","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=402975"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/402975\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/402976"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=402975"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=402975"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=402975"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}