Spotify Shares Jump 11% After Tweaking Platform Following Joe Rogan Backlash

By Denny Jacob

Spotify Technology SA shares jumped 11% to $192.64 Monday after the music streaming service published its content policy and created a Covid-19 information hub in response to the ongoing conflict between Neil Young and Joe Rogan.

Young's decision to pull his music from the platform last week was in response to what he says is misinformation spread by podcaster Joe Rogan. Rogan, who struck a deal with Spotify in 2020 worth more than $100 million, responded to Neil Young's objections and pledged to be more balanced and informed about controversial topics and guests in a late Sunday evening 10-minute Instagram video post. As of Sunday, Spotify is beginning to tag Covid-19 related content with an advisory prompting users to check out the service's new "hub for data-driven facts and up-to-date information" from the health and scientific communities.

Spotify was raised from to buy from neutral by Citigroup, which also announced a price target of $240 per share on Monday.

Shares of Spotify are down 42% over the last 12 months.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

January 31, 2022 12:00 ET (17:00 GMT)

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