this post was submitted on 17 Dec 2023
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Spotify doesn't make profit from music streaming, despite having over 400M monthly active users, because it pays two-thirds of all its revenue to the rights holders. (open.substack.com)
submitted 7 months ago by 4realz@lemmy.world to c/technology@lemmy.world
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[–] 4realz@lemmy.world -4 points 7 months ago (2 children)

Spotify is definitely not the villain here, they have created the best music streaming platform in the world. The big publishers also can't be called the villains per say, but it wasn't so nice of them to force a small startup (Spotify in it's early days) to sign contracts that will permanently force it to payout about $0.66 out of every $1 it makes.

[–] echo64@lemmy.world 1 points 7 months ago

The "best music platform in the world" sure hates paying artists, tho. I know you are obsessed with labels, they pay indie artists fuck all too

[–] Carter@feddit.uk 1 points 6 months ago

The most popular musoc streaming service. Definitely not the best. They still don't offer lossless musoc streaming and their lossy files use an outdated encoder.