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 1 year ago by 4realz@lemmy.world to c/technology@lemmy.world
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[โ€“] czech@low.faux.moe 9 points 1 year ago (1 children)

To be fair- Spotify priced the service that doesn't make enough profit to pay artists adequately.

[โ€“] 4realz@lemmy.world 12 points 1 year ago

Like the article explains, they can't price their services too expensively, because of competition. If Spotify becomes $25/month, most users will move to Apple Music or YouTube Music, etc.