There are multiple layers, and reasons for our decision, but looking at the capitalistic, free market angle, this band, like any other small business, is cutting ties with a partner that continues to cut into our bottom line. We simply cannot square Spotify’s insistence on spreading misinformation about something that directly endangers our band’s supply chain, namely, human beings in a room with big speakers. “The vast majority of venues on our upcoming tour are requiring proof of vaccination or a negative test to see our show. The last tour we had booked in 2019 was canceled because of COVID, which was a massive financial blow to the band. Right now, Failure have a 31-date US tour booked for June. The band continued: “Beyond the moral issues raised by Spotify’s COVID decision, the issue of vaccine misinformation and how it directly affects the current situation in the live music space is simply untenable. Posted by Failure on Tuesday, February 1, 2022 He spent five years as a staff reporter at The Wall Street Journal, and has also written for The Washington Post and Toronto Star newspapers, as well as financial websites such as The Motley Fool and Investopedia.Failure have wrestled with the question of Spotify and whether to have our newest music, which we control, on the… Joel Baglole has been a business journalist for 20 years. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines. On the date of publication, Joel Baglole did not have (either directly or indirectly) any positions in the securities mentioned in this article. For the time being, investors should keep an eye on Rumble and its reverse merger. This could be good news for the upcoming market debut of Rumble. However, speculation has driven the price of the video sharing platform’s SPAC partner to new heights. What is clear is that Joe Rogan and his podcast appear to have a place to land should Spotify decide to part ways with him.īut can Rumble really snag The Joe Rogan Experience? It’s not clear. Where things go from here is a bit murky. Owing partly to the controversy, SPOT stock is down 30% year-to-date at $165 per share. There’s a lot of drama going on right now with Joe Rogan and Spotify. In comparison, CFIV stock is at $9.77 per share, but it was essentially flat prior to its recent jump. The stock has risen 423% since the beginning of October 2021. Year-to-date, Digital World Acquisition’s stock is up 62% at $83.68 per share. This comes as DWAC’s share price rises in the lead-up to the launch of Trump’s Truth Social on Feb. Shares of CF Acquisition IV rose as much as 43% on news of the offer made to the controversial podcast host. The idea of Rumble signing Joe Rogan, who inked a deal with Spotify in 2019 reported to be worth at least $100 million, has investors excited. It has also reached an agreement with former U.S. Rumble has previously partnered with right-wing commentators, such as journalist Glenn Greenwald. The planned alternative to Twitter is also preparing to go public in a reverse merger with SPAC Digital World Acquisition Corp. The company has partnered with former President Donald Trump’s proposed social media platform, Truth Social. But the video sharing site is expected to go public at an enterprise value of $2.1 billion. The exact date for Rumble’s debut hasn’t been disclosed. 1, 2021 that it plans to go public through a reverse merger with SPAC CF Acquisition IV ( NASDAQ: CFIV). Now, the video-sharing site is going public through a special purpose acquisition company (SPAC) deal. Venture capitalist Peter Thiel, who co-founded PayPal (NASDAQ: PYPL) and was the first outside investor in Meta (NASDAQ: FB), has taken a stake in Rumble. Since the onset of the pandemic, Rumble’s monthly viewership numbers have risen from 1.6 million to 31.9 million. The site has grown exponentially in recent years. Since launching in 2013, it has become a haven for right-wing commentators, free speech advocates and conspiracy theorists. And yes, this is totally legit.”Ĭanada-based Rumble positions itself as an alternative to Alphabet’s (NASDAQ: GOOG, NASDAQ: GOOGL) YouTube. How about you bring all your shows to Rumble, both old and new, with no censorship, for 100 million bucks over four years? So we’d like to offer you 100 million reasons to make the world a better place. “We stand with you, your guests, and your legion of fans in desire for real conversation.
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