Spotify lost market value worth around $2.1 billion in less than one week.
The streaming giant has endured a torrid seven days, with the decision to air a controversial episode of the Joe Rogan podcast backfiring.
The host spoke to a medical professional who objected to giving children the COVID vaccination, sparking a wave of condemnation.
Neil Young – who suffered polio as a child – sided with the health community, and asked Spotify to remove his catalogue from their services.
At the time, he wrote: “Spotify has recently become a very damaging force via its public misinformation and lies about COVID.”
Overnight, Joni Mitchell – a close friend of Young’s – joined the blackout, beginning steps to remove her catalogue from the service.
She writes: “I’ve decided to remove all my music from Spotify. Irresponsible people are spreading lies that are costing people their lives. I stand in solidarity with Neil Young and the global scientific and medical communities on this issue.”
It comes amid a dark week for the streaming giant, which lost around $2.1 billion in market value over a three-day span; shares fell 6%, culminating in a 19 month low share price.
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