user on that platform brought in 11 times as much money as those from the Asia-Pacific region according to its parent company’s most recent annual report. To take an example from another tech giant, Facebook, the average revenue per U.S. consumers, by and large, spend a lot more than those anywhere else in the world. Those global trends tend to be bad for tech companies. is still the app’s biggest listener base, it’s making up a shrinking proportion of all its revenue. Crucially, it has also pushed to get more listeners globally - so much so that, while the U.S. Since 2019, Spotify has been trying to get away from just being a music-streaming app and bigfooted its way into becoming one of the biggest podcasting streamers, even trying to rival the flash-in-the-pan live-audio app Clubhouse. Spotify, headquartered in Sweden and valued at about $36 billion, is massive by just about every standard, with more than 173 million listeners and the vast majority of its money coming from subscribers who pay about $10 a month to listen to some 70 million tracks. It was all very neat and sounded nice even as it added up to very little. Spotify CEO Daniel Ek said the company would label podcast episodes that have misinformation in them.
The tension reached a head before the markets opened with Rogan taking to Instagram to offer a semi-apology for giving the mic to COVID cranks, saying he will change his format around such controversial guests. On Monday morning, the world of capital rallied around the Swedish streaming company, sending the company’s stock up more than 12 percent - a surge that, if it holds, would be one of its best days ever on the New York Stock Exchange - despite major artists such as Neil Young and Joni Mitchell bolting over the platform’s most popular podcast, The Joe Rogan Experience, airing COVID-19 misinformation. Five years after the #DeleteUber hashtag ushered in the first broad Big Tech boycott - and failed to gain any long-term traction - calls to do the same thing to Spotify over Joe Rogan have sputtered out after hardly a week.
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