I think they shot themselves in the foot over the Joe Rogan thing. I suspect that they could have increased subscriptions by a large amount, but there were PR disasters all over the place. I suspect that a number of people decided not to move because of how things were handled. Or at least the appearance that Spotify might ban or censor Rogan's podcast.

Right when the biggest hype for this acquisition was happening, all of the PR was negative. I wonder if as things cool off and no other issues occur, Joe Rogan fans will slowly move over, but time will tell.