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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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[–] Thcdenton@lemmy.world 1 points 11 months ago

BLITZSCALE BABY

[–] Jay@sh.itjust.works 1 points 11 months ago (5 children)

I believe Spotify is largely responsible for its own financial struggles. Knowing that 2/3 of their revenue goes to the greedy labels, they should consider scaling back on operational costs and excessive investments in advertising and celebrity podcast deals.

In a way, it serves them right. Spotify plays a significant role in transforming music into a product akin to fast food, prioritizing mass consumption over artistic value. This approach not only impacts their profitability but also contributes to a broader devaluation of music as an art form.

So fuck Spotify.

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