I occasionally watch videos by a YouTuber named Benn Jordan (just a coincidence with my own Lemmy username to be clear), and he gives what look like pretty damning arguments to me that the numbers Spotify is publishing are misleading and not telling the whole story, and that their treatment of artists over time is growing worse.

Here's one of the videos I think I remember being fairly compelling - https://youtu.be/gDfNRWsMRsU?si=p5EVxsFaAU6MsQjT

I thought there was a more recent one but I'm not finding it. Anyway with that said, I've got no dog in this fight and I only watch some of that stuff recreationally, I lack a ton of info.