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 10 months ago by 4realz@lemmy.world to c/technology@lemmy.world
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[โ€“] SatyrSack@lemmy.one 2 points 10 months ago (1 children)

Has anything really happened since they were acquired by Epic last year?

[โ€“] alt_xa_23@lemmy.world 7 points 10 months ago

Epic sold it to a company called Songtradr, who shortly laid off a good chunk of the staff. They haven't done too much so far, but it could easily go south from here.