Spotify shares fall on worries over slowing growth amid Rogan row

Spotify expects slower growth in subscribers, as the streaming service weathers controversy involving Joe Rogan and musicians leaving the platform in protest of its star podcaster. — AFP

Shares of Spotify tumbled Wednesday after the music streaming service – roiled in controversy over its star podcaster Joe Rogan – projected lower profit margins in the coming earnings period as subscriber growth slows.

The company reported solid increases in the fourth quarter in terms of monthly active users and 180 million premium subscribers, in line with earlier forecasts.