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 11 months ago by 4realz@lemmy.world to c/technology@lemmy.world
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[โ€“] chitak166@lemmy.world 15 points 11 months ago (1 children)

Profit can be distorted based on how much you're paying your employees.

In this case royalties paid out to imaginary property holders means spotify is functioning exactly how it should. Those people are profiting, spotify's employees are being paid. Everyone directly involved has more money than they need.

[โ€“] thedirtyknapkin@lemmy.world 6 points 11 months ago

except tht artists, which is more the fault of the rights holders in this case really...