Spotify CEO Daniel Ek has addressed the current controversy surrounding the misinformation dispute regarding the Joe Rogan Experience podcast and the exodus of musicians that has followed.
It was only last week that Neil Young kickstarted the debate by being the first to leave the platform “in the name of truth” and subsequently others have followed including Joni Mitchell and his former bandmates Crosby, Still & Nash.
Although the stock market value of Spotify took an immediate $2billion tumble in the aftermath, Ek has asserted that it is too early to tell the long-term impacts, telling The New York Times: “In general, what I would say is, it’s too early to know what the impact may be.”
The company is no stranger to backlash, after all, debates regarding their royalty payments have been almost ever-present since the inception of Spotify. Thusly, Ek added: “Usually when we’ve had controversies in the past, those are measured in months and not days.”
“I feel good about where we are in relation to that and obviously top line trends looks very healthy still,” he added, and whether that was merely to reassure stockholders or otherwise, it remains a pertinent point that very few punters have joined the exodus.
While in the aftermath, Spotify have ventured to roll out a new misinformation warning system – the first of its kind on any platform – Ek was quick to reassert that they would not be hasty in their response simply to appease Young. “The important part here,” he told the New York Times, “is that we don’t change our policies based on one creator nor do we change it based on any media cycle, or calls from anyone else.”
Continuing: “Our policies have been carefully written with the input from numbers of internal and external experts in this space. And I do believe they’re right for our platform. And while Joe has a massive audience—he is actually the number one podcast in more than 90 markets—he also has to abide by those policies.”
As the fallout continues, it is likely that further repercussions will unfurl in the coming days, weeks and months, but with Spotify still seeing growth in user uptake wholesale reforms are unlikely.