Spotify Fails to Comply With $100 Million Decision Amidst Joe Rogan Dispute, New Reports Reveal

In today’s world, music and podcast production are enjoying unprecedented popularity. Many people make their living and, in some cases, their fortunes from their passion for creating compelling content. One notable example is Joe Rogan, he rose to fame and fortune with his hugely successful podcast, ‘The Joe Rogan Experience’. Due to the podcast’s incredible popularity, Spotify recognized Logan’s value and awarded him an unprecedented $200 million deal for exclusive rights to his show.

However, this wasn’t the only major plan Spotify had in place.Given the repercussions caused by the controversy surrounding Rogan’s Covid-19-related comments, the company launched an initiative called the “Creator Equity Fund.” It promised. The program aims to help underrated artists with their music and other projects on the platform, and a whopping $100 million has been allocated for this purpose.

Despite this, Spotify has only spent a tiny fraction of the fund’s total since its inception. And the company’s “shift of priorities” is said to be responsible for this.

Spotify failed to deliver on Joe Rogan’s post-controversy promise

In February 2022, Spotify CEO Daniel Ek released a statement addressing the Joe Rogan and Covid-19 controversy. Ek promised that “he will invest an additional $100 million in the licensing, development, and marketing of his content for the historically marginalized group’s music and audio.” Called the “Creator Equity Fund,” the initiative was designed to boost creators of all types, especially those from minority backgrounds. But after almost 14 months, the fund struggled to get off the ground.

Bloomberg reported that Spotify has spent less than 10% of its funding on this work, and that the initiative to hire designated staff to oversee the project has fallen behind schedule. Also, the amount was to be used over three years. But the streaming service has failed to come up with a well-structured plan to follow suit.

“The Spotify Creator Equity Fund is dedicated to a variety of initiatives that help advance and support a comprehensive and diverse portfolio of artists and creators on our platform.” A Spotify spokesperson wrote in a statement to PodPod: “By investing in programs like GLOW, Frequency, NextGen and AMPLIFIKA, you can empower and elevate minority voices around the world. “

The “Creator Equity Fund” was a step in the right direction by Spotify. However, despite having the best of intentions, the company failed to deliver on its promises.

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