..
Life is full of unintended consequences.
..
As of Dec. 31, New York State Common Retirement Fund held $41 million in Spotify stock.
February 07, 2022 12:35 PMupdated 5 hours ago
New York state comptroller wants reports from Spotify, 3 other firms
New York State Comptroller Thomas P. DiNapoli has sent a letter to Spotify Technology SA Chairman and CEO Daniel Ek expressing his concern regarding the streaming service’s content management practices, and has filed shareholder proposals with three other companies regarding their harassment and discrimination prevention efforts.
Mr. DiNapoli, state comptroller and sole trustee of the $267.8 billion New York State Common Retirement Fund, Albany, said in the Feb. 2 letter to Mr. Ek that he urges the streaming service commit to publishing a transparency report on the enforcement of its platform rules and policies, providing a mechanism for users to report content that may violate those rules and clearly define board of director oversight of risks and enforcement policies related to content management.
As of Dec. 31, New York State Common Retirement Fund held $41 million in Spotify stock, a spokesman for Mr. DiNapoli said in an email.
Mr. DiNapoli said in the letter that he is requesting the company’s commitment to these actions because of recent media reports that have highlighted Spotify hosting content that spreads misinformation related to the COVID-19 pandemic.
“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,” Mr. DiNapoli wrote. Despite being encouraged that Spotify has released its platform rules for the public and for investors, Mr. DiNapoli said, “I believe investors need greater transparency and accountability for how Spotify is enforcing its rules and measuring its progress.”
..
Feb 7 (Reuters) – New York State’s top pension official has asked streaming music platform Spotify Technology SA (SPOT.N) for details about the effectiveness of its new content rules, citing complaints including that podcaster Joe Rogan has spread misinformation about COVID-19 vaccines.
New York State Comptroller Thomas DiNapoli, who oversees funds that hold Spotify shares, requested the report in a letter sent to Spotify Chief Executive Daniel Ek on Feb. 2, which was shown to Reuters.
The letter also urged Spotify to give users an easy mechanism to report content that could violate its rules, and to define how its board oversees content risks and enforcement.
DiNapoli cited reports of Spotify hosting content that has included COVID-19 misinformation, and racist and antisemitic material. Prominent rock musician Neil Young last month left the platform last month because he said Rogan has misled people about vaccines, followed by other stars,
“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.
Spotify representatives did not respond to requests for comment.
..
weehingthong 