Speed Reads

The rogan rally

Spotify stock rebounds after Joe Rogan apology

Spotify's stock prices have recovered after a drop caused by Neil Young and Joni Mitchell removing their music from the platform to protest the streamer's continued platforming of podcast host Joe Rogan, Reuters reported Monday. The two singers accused Rogan of spreading misinformation about COVID-19.

Spotify prices slid from $193.56 per share on Jan. 24 — the day the "Cortez the Killer" singer delivered his ultimatum that Spotify "can have Rogan or Young. Not both" — to just under $173 per share on Friday, a drop of around 10 percent that wiped out over $2 billion in market value.

By the end of the trading day Monday, share prices were back up to $195.36.

Rogan's apology appears to have fixed the problem.

The Joe Rogan Experience host posted a video on Instagram Sunday night in which he defended interviewing guests who "have an opinion that's different from the mainstream narrative," but also acknowledged that he could "do better" in the future by interviewing "more experts with differing opinions right after I have the controversial ones."

Spotify also announced on Sunday it will add a content advisory to any podcast episode that discusses COVID-19.

Rogan has drawn criticism for interviewing Drs. Peter McCullough and Robert Malone — both of whom have been accused of spreading COVID misinformation — on his show, which draws millions of listeners per episode.

A few weeks before Young lodged his protest, 270 medical experts signed a letter demanding Spotify rein in Rogan, The Guardian reported. Other outlets later challenged the credentials of some of the letter's signatories.

Spotify purchased the exclusive rights to distribute Rogan's podcast for $100 million in 2020, The Washington Post reported.