Socially Conscious Consumers Got Spotify to Change Its Tune
*By Britt Terrell*
Spotify's decision to remove the R&B artist R.Kelly's songs from parts of its streaming music platform was a considered response to consumers' demands that brands behave in a more socially responsible way.
"These social movements typically backed by large groups of young users are pressuring companies to take a stance," said Phillip Tracy, a tech writer for The Daily Dot.
According to a 2015 Nielsen [report](https://www.forbes.com/sites/sarahlandrum/2017/03/17/millennials-driving-brands-to-practice-socially-responsible-marketing/#3946f9034990), 66 percent of consumers are willing to spend more if a product comes from a sustainable brand. Millennial customers are even more demanding ー 81 percent of millennials expect their favorite companies to make public declarations of corporate citizenship.
To appeal to those sentiments, some brands are responding increasingly quickly to online calls to action when new controversies arise.
Spotify made a statement this week when it responded to a #MuteRKelly movement that started after the singer was [accused](http://www.vulture.com/2018/04/another-woman-is-accusing-r-kelly-of-sexual-misconduct.html) of sexually abusing women in a sex cult. Like the hashtag campaigns #MeToo and #TimesUp, the online effort around R.Kelly sought to hold the artist accountable in the marketplace.
Citing its new Hate Content and Hateful Conduct Policy, Spotify said it would no longer include R.Kelly's music in its algorithm and editorial-curated playlists.
Tracy said in an interview Friday with Cheddar that it's hard to say whether other streaming services such as Apple Music will follow Spotify's example.
Spotify has 75 million subscribers as of its first public earnings report earlier this month. Apple has 40 million.
For the full interview, [click here](https://cheddar.com/videos/spotify-takes-the-keys-from-ignition-2).
CES, the largest tech convention in the world, kicks off this Wednesday ending on Friday, one day earlier than originally planned. The annual event features more than 2,000 exhibitors showing off their latest tech products in Las Vegas. Richard Lawler, Senior News Editor, The Verge joined Wake Up with Cheddar to preview the large event.
Amazon employees and activists staged a worldwide strike today--calling on the tech giant to raise wages, pay more taxes and reduce its carbon footprint. The 'Make Amazon Pay' protests took place at factories, warehouses, data centers and corporate offices all around the world. Ian Sherr, Editor at Large, The Verge, joined Wake Up with Cheddar to discuss.
Tesla posted solid delivery numbers over the last year, with deliveries surpassing over 930,000, an 87 percent jump from the same period in 2020. Anthony Sassine, CFA, Senior Investment Strategies, KraneShares joined Wake Up with Cheddar to discuss the top EV stocks as well as how Tesla will stay relevant in the crowded space.
Apple became the first publicly traded U.S. company to hit the $3 trillion valuation mark after its stock price jumped to $182.86 in morning trading before slipping back just under the mark. The tech giant has tripled its worth since 2018.
There is a new player in the mobile app stock trading space.
Zingeroo recently announced a funding round of $8.5 million. The company says it aims to bring 'friendly competition' to stock trading, by literally breaking trading down into daily and weekly competitions between friends. Zingeroo also says it hopes its new approach can make trading more accessible, educational, and social than ever before. Zingeroo co-founder and CEO Zoe Barry joins Cheddar News' Closing Bell for more.
As cell carriers AT&T and Verizon planned to roll out nationwide 5G service this week, the FAA and U.S. DOT are asking the companies to pause their plans so more research can be done on the impact 5G has on aircraft technology. The companies are refusing, citing French regulations that limit wireless signals around airports while allowing research to continue. This week's launch wasn't the first time concerns have delayed 5G — last year, Airbus and Boeing express concerns, pushing the deadline into November, December, and then into this year. So what happens now — and what happens next? Will 5G roll out this year as expected? Jon Swartz, Senior Reporter at MarketWatch, joins Cheddar News' Closing Bell to discuss the state of the planned 5G rollout, why the FAA and U.S. Department of Transportation are asking carriers to stall the launch, and more.
Tyrone Ross, CEO of Onramp Invest, joins Cheddar News' Closing Bell, where he explains why he believes the current crypto slump is expected to persist and says that investors should be focusing more on Bitcoin's hashrate when it comes to metrics.
