Spotify, which has been at the center of controversy, saw its shares fall 17% after the earnings release

The Little Antler Think Tank has developed a mini program “Little Antler Pro”. As a member, you can enjoy a large number of articles, reports and databases anytime and anywhere.Spotify has been at the center of a recent firestorm, after Joe Rogan’s podcast spread conspiracy theories and fake news about COVID-19 and vaccines, mocking victims of current events and spreading rumors, leading to a backlash from the music industry and many users.A number of musicians, including Neil Young and Joni Mitchell, have withdrawn their Copyrights, stopped working with Spotify and asked the streaming service to remove inappropriate podcasts from their shelves.Users also took to social media with the hashtag #CancelSpotify, calling for unsubscription and a boycott of Spotify.In response, Spotify unveiled its content policy and created a COVID-19 information center on January 30.Chief Executive Daniel Ek said Spotify’s overall content policy had been opaque and that they had an obligation to do more.Joe Rogan also took to the social media platform on Sunday to apologize for “spreading false information about COVID-19 vaccines,” promising to be more balanced in his show.On this occasion, Spotify released its 2021 and q4 financial update after the market closed on Wednesday, February 2.Spotify shares fell more than 17% on February 3 after the results were released, hit by the controversy and the fact that the estimated monthly live numbers for the first quarter missed analysts’ expectations.In terms of subscribers, its global subscriber base grew to 180 million in the fourth quarter of 2021 (ended December 31), up 8 million (5%) from 172 million in the third quarter and 25 million (16%) year over year.Meanwhile, the company’s total monthly active users (MAUs) grew 18% year-over-year to 406 million in the fourth quarter of 2021, and 7% sequentially.It’s worth noting that 406 million monthly active users is near the top of its guidance range.The company said it saw double-digit growth in monthly active users across all regions, led by strong results in India and Indonesia.Growth in Latin America was also “ahead of expectations”, with all regions, led by Europe and Latin America, contributing to its year-over-year growth in paying subscribers.

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