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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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[–] Mahlzeit@feddit.de 0 points 11 months ago

Everyone talking about these poor artists. Taylor Swift received 100 million USD in 2023. She has just become the first billionaire musician. How many more billionaires should we have?

Ok, maybe that's beside the point. We're talking about the actual poor artists.

So, Spotify fires most of its staff. I'm sure they'll find better jobs. Now it can pay almost 50% more - all its revenue - to right's holders. Taylor Swift gets 50 million more; still much less than she deserves, I'm sure. And - trickle down FTW - artists who make $15k (US minimum wage) now get $22.5k. Yay!

But wait. Artists who received $10k now receive $15k; more minimum wage earners struggling to scrape by, Now what?