Spotify said monthly active users rose 18% to 404 million for the fourth quarter of 2021 as premium subscribers hit 183 million and revenue grew 24%.
It reported numbers as controversy swirls around Joe Rogan.The shares plunged 17% in after-hours trading on disappointing growth forecasts.Founder and CEO Daniel Ek will host a call at 4:30 ET to talk numbers and address if he wishes the flurry of defections by artists protesting Covid-19 vaccine misinformation by the host of The Joe Rogan Experience.
The movement started last week as Neil Young pulled his music off the service. He was joined by Joni Mitchell, Graham Nash and Nils Lofgren, India.Arie and most recently Crosby, Stills & Nash.Ek and Rogan both addressed the issue over the weekend.
The chief executive said he didn’t want Spotify in the role of censor but would add a content advisory to any podcast episode that includes a discussion about COVID-19 directing listeners to a dedicated hub with resource and links to information about the virus.Rogan said he was sorry for landing his employer in a fix and that he’d try to represent more point of view. “I would like to talk to some people who have differing opinions on the podcasts in the future.
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