Stock Groups

Exclusive-New York pension official, worried about misinformation, seeks Spotify report -Breaking

by Mike Robinson

[ad_1]

© Reuters. FILEPHOTO: This computer screen shows a trader displaying Spotify before Spotify began selling on the New York Stock Exchange floor in New York. REUTERS/Lucas Jackson

By Ross Kerber

(Reuters) – New York State’s highest pension official asked streaming music platform Spotify Technology SA (NYSE:), for more information about its new content regulations, including complaints that Joe Rogan spread misinformation regarding COVID-19 vaccines.

Thomas DiNapoli from New York State, the state comptroller, requests the report. This letter was addressed to Spotify Chief Executive Daniel Ek and sent on February 2 to him. Reuters received it.

Spotify was also asked to provide a simple way for users to report any content they believe violates its rules. It is also required to outline how it oversees enforcement and risks related to content.

DiNapoli mentioned reports that Spotify had hosted content that contained COVID-19 misinformation and racism, as well as anti-Semitic and racist material. Last month, Neil Young, a prominent rock musician, quit Spotify because Rogan had misled people regarding vaccines. He was followed by several other celebrities.

“As we have seen with other technology and media companies who host or publish content, the failure to successfully moderate content on a company’s platforms can lead to various reputational, regulatory, legal, and financial risks,” DiNapoli wrote.

Representatives from Spotify did not respond when asked.

Rogan was the former host of Fear Factor TV and mixed martial art commentator. He signed a $100m deal that gave Spotify exclusive rights for his podcast. Rogan has promised more balance. In an effort to calm the debate, Spotify said that any podcast with a discussion on COVID would have a content advisory.

Spotify announced on Jan. 30, “platform rules” that would prohibit content from inciting violence or hatred against a person, group, or individual based upon race, religion or gender identity, and others.

DiNapoli managed retirement funds that held Spotify shares valued at $41 million. This is only the 73rd highest stake.

DiNapoli was one of the influential activists that lobbied for increased content oversight in other social media platforms.

Disclaimer: Fusion MediaThis website does not provide accurate and current data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

[ad_2]