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Spotify Takes Major Hit Amid Joe Rogan Backlash

The music streaming platform experiences major loss in market cap value for supporting what many consider to be a anti-Black racist.

The multi-million dollar music streaming platform, Spotify has suffered greatly over the last month, losing over 4 billion dollars on its market cap after it’s experiencing backlash for refusing to remove anti-Black racist podcaster Joe Rogan from it’s platform.

Podcaster Joe Rogan

Internationally known white supremacist and podcaster, Joe Rogan hasn’t been kicked off of Spotify sources say.

The Fear Factor host has been under fire for a viral video of him saying the n-word some 30 times, leading to social media and particularly Black Twitter to call for Spotify, the multi-million dollar music streaming platform, to remove him.

“Silencing Joe is not the answer.” said Spotify’s CEO Daniel Ek. A sentiment that many considered to be a defense of anti-Black racism.

Spotify CEO, Daniel Ek

Rogan who is known for interviewing softcore white supremacist like Phil Defranco who routinely make anti-Black comments and occasionally more virulent Nazis like Chuck C. Johnson who claim that Black people have a gene that makes them more violent, has been silent since making a insincere apology video that essentially blames Black people for his saying of the n-word.

Spotify’s market value has dropped by more than $3.1 billion since February 8th, which is within the same timeframe of the Black community calling for Rogan’s removal. Black artist are also leaving the company often calling the negotiating “unfair or nonexistent”, as well as reports of white supremacist content littered throughout the platform.

Spotify’s shares dipped down 7% on Thursday, marking a two-week steady decline with no reporting their worst quarter in 2 years.

Michael Lyles, B1Daily

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