NY Pension Fund Worried About Spotify "Misinformation" As CEO Refuses To 'Cancel' Rogan
Just when Spotify bulls were breathing a sigh of relief following this morning's apology from CEO Daniel Ek (who sought to soothe over SJW anger by pledging to "incrementally" invest $100MM in artists from underrepresented backgrounds in response to the controversy over Joe Rogan), it looks like one of the country's biggest pension fund managers has decided to get involved.
Reuters reports that New York State Comptroller Thomas DiNapoli has asked the streaming platform for a report on the effectiveness of its new content guidelines, which it unveiled late last week as the controversy over the 'Joe Rogan Experience' was snowballing.
The letter also cited complaints that the show had "spread COVID misinformation" while also being both "racist" and "antisemetic". Spotify announced a week ago that it would affix a content advisory to any Rogan episodes where COVID information is discussed, while also laying out content guidelines (including a ban on material that promotes 'criminality' - although isn't that what 99% of hip hop, the most popular genre of music streamed on the platform, is all about?).
As the top official overseeing NY State's pension, DiNapoli has control over funds that own Spotify shares, which puts a lot of pressure on management to respond since an announcement that NY pension funds are dumping Spotify shares would likely vaporize billions of dollars in market value.
DiNapoli has a history of successfully pushing for more oversight on content at certain social media companies. Funds he oversees own $41 million in Spotify shares.
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