The original impetus for Neil Young’s demand was a letter he posted on social media saying Spotify could either have Neil Young or Joe Rogan, but that letter was almost immediately deleted after it was posted,” Enjeti said.
“Who is demanding this? Enjeti asked. “Is it Neil Young or is it the people who own his music?”
“You see a recent trend in the music business it that iconic artists such a Neil Young sell their catalogs to big-money groups who then reap the profits in perpetuity. Young actually sold his catalog in Jan. 2021 to a company called Hipgnosis. Now Hipgnosis is a $1 billion company that recently announced an ownership agreement with Blackstone.”
Enjeti said Blackstone is focused on taking over single-family housing and turning America into a nation of renters, but it also has interests everywhere.
“Blackstone, BlackRock and these big private equity giants are ruthless in their pursuit of profits and they’re savvy political players who know how to play the game,” Enjeti said. “They have all sorts of ties to the pharmaceutical industry, including announcing the former CEO and chairman of Pfizer would be joining Blackstone as a senior advisor.”
“Do you really think it’s a coincidence that days after Neil Young’s music was pulled off of Spotify he debuts a 4-month free trial to any person who wants to sign up for Amazon music — who has struggled to gain market share and has long-standing connections with all of the big money people in the game?” Enjeti asked.