Neil Young Song Streams Jump 38% After His Spotify Boycott
Neil Young Song Streams Jump 38% After His Spotify Boycott
(Bloomberg) -- More people are listening to Neil Young’s music even after he left Spotify Technology SA, with streams up 38%, according to his music publisher.
Merck Mercuriadis, whose fund owns 50% rights to Young’s catalog, said interest in the artist’s music has surged since he requested the streaming service remove his songs after accusing Spotify’s most-popular podcaster, Joe Rogan, of spreading vaccine misinformation on his show.
“The interesting thing about Neil is that his consumption has gone up in the two weeks since he came off the service,” Mercuriadis said in an interview with Francine Lacqua on “Bloomberg Surveillance Early Edition” Tuesday. “We’re at 38% up in streaming alone, and we’re hundreds of percentages up in terms of album sales and that.”
Mercuriadis said he backed Young’s position to take on the music streamer last month. Young’s move has since inspired other artists and consumers to cancel Spotify, whether by taking down their creative content from the platform or ceasing subscriptions. The controversy has also thrown Spotify into the spotlight as it grapples with implementing content standards.
Spotify’s Chief Executive Officer Daniel Ek apologized Sunday to staff for the impact the controversy over Rogan’s podcast has had on them after internal dissent in the company has heightened, but said he didn’t agree with calls to drop the broadcaster from the service.
Spotify should “put health warnings on (Joe Rogan’s) podcasts and I think they should stand up and applaud Neil for taking a strong position,” Mercuriadis said, although he added that he doesn’t think Spotify should “cut off” Rogan.
Mercuriadis runs Hipgnosis, a U.K.-based investment fund that has sought to establish songs and music catalogs as an asset class for investors.
Mercuriadis said he and Young discussed Young’s decision to remove his music from Spotify prior to him doing so last month. Young’s decision doesn’t change Hipgnosis Songs Fund’s relationship with Spotify, he said.
Young’s stance “is a position that’s completely consistent with the way that he’s conducted himself with his fan base,” Mercuriadis said. “Those fans that make his income predictable and reliable believe in him.”
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