Spotify will go all-in on marginalized creators as the company plans to spend up to $100 million in the licensing, development, and marketing of music and audio content from "all types of creators," CEO Daniel Ek told TechCrunch. The Spotify CEO emphasized that the move "will dramatically increase our efforts in these areas."
The report notes this is the same amount of money Spotify paid to Joe Rogan for his exclusive content deal. Ek said:
I want to make one point very clear — I do not believe that silencing Joe is the answer. We should have clear lines around content and take action when they are crossed, but canceling voices is a slippery slope. Looking at the issue more broadly, it’s critical thinking and open debate that powers real and necessary progress.
The move comes after Spotify removed over 70 episodes of The Joe Rogan Experience due to the host’s unrelated use of the N-word. Ek admitted in a letter to staff that Rogan’s comments were "incredibly hurtful."
The show continues on Spotify despite criticism though. According to reports, Ek decided to keep the podcaster to "[elevate] all types of creators."
Earlier, To The Moon reported that Naver Z, a subsidiary of Korean internet conglomerate Naver Group, is also launching a $100 million fund to boost the creator economy in the metaverse.
The initiative is mainly focused on Zepeto, Naver's 3D app powered by Unity. The platform allows creators to develop 2D and 3D content for mobile phones. According to the report, the app has 20 million monthly active users.