His Spotify deal, which he signed in 2020, is reportedly worth more than $100 million.
Rogan regularly describes himself as a liberal yet makes headlines for some of his views that many would describe as right-wing - such as on guns, censorship, trans athletes in sports, and the role of government during the pandemic. Once the glitch was resolved, the stock popped back up.Spotify Takes Aim At Apple Over Audiobooks Launch on App Store
Wall Street seems to favor Rogan, as well: just last week, SPOT tanked momentarily after The Joe Rogan Experience became unavailable on the Spotify platform. A roiling feud involving Neil Young never materialized into a mass exodus of artists, and Spotify stood by its favorite podcaster.
In that soup, it now looks like Joe Rogan is actually the least of Spotify’s problems. However, during the current quarter, Spotify is now projecting a gain of just 3 million premium subscribers, part of a financial picture and broader projection that failed to impress Wall Street. That raised the total number of paying subscribers to 180 million, a previously unthinkable accomplishment. That recently came to a head when Spotify revealed that premium subscriber gains may be plateauing.Įarlier this month, Spotify posted a respectable 8 million premium subscriber gain over the past quarter alone. But now, markets are growing cautious around heavy-spending, profitless tech companies. Spotify CEO Daniel Ek’s ‘go big or go home’ strategy has worked wonders for nearly a decade. Sure, Spotify leads the roost in music streaming, though its underlying financials remain in the red. Investors first started dumping shares amidst continued profitability problems. Unfortunately, Spotify is anything but a darling in these treacherous times. That has now been compounded by growing global instability, with Russia’s advance on Ukraine potentially triggering a range of problems for gas prices, global trade, and broader conflict. On the outside, continued insecurity over rapid inflation and expected rate hikes by the Federal Reserve are rendering Spotify a risky bet.
SPOT’s plunge is rooted in a nasty mix of elements happening both inside and outside the streaming giant.
0 kommentar(er)
