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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[–] can@sh.itjust.works 19 points 1 year ago* (last edited 1 year ago) (2 children)

Well, their CEO Daniel Ek's investment company Prima Materia "invested €100 million ($114 million USD) in Helsing, an artificial intelligence company based out of Europe that assists in military technological ventures. "

So I'm happy to take my *streaming business elsewhere.

[–] blazeknave@lemmy.world 9 points 1 year ago

After being the earliest adopter of free and paid that I know personally (and I work in tech), Joe Rogan was the nail in the coffin for me. I was already paying for YouTube premium (download for subway, and close screen while playing) and saw music was included so the decision was simple.

[–] hexual@lemmy.world 2 points 1 year ago

This was also exactly why I moved away from Spotify.