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After announcing increased prices, Spotify to Pay Songwriters About $150 Million Less Next Year
(www.billboard.com)
this post was submitted on 09 May 2024
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weekly PSA that spotify is a dumb company who makes no money because they're stupid.
To put it bluntly, between the artists, and the musicians, there is the publisher (the traditional music company) the money pretty much only goes to the publisher, because spotify doesn't want to make money, nor do they want artists to make money. And the artists put their shit on spotify because people believe that spending 15 dollars a month on a service that doesnt pay artists, apparently pays artists.
Go support your local musical artists.
The big record labels are shareholders in Spotify so they're happy to get less money in streaming royalties because that's the part they have to share with artists, but the value of their shares they get to keep all for themselves.
https://www.rollingstone.com/pro/news/who-really-owns-spotify-955388/
ah of course, schizo economics, how could i forget. "trust me, i will hold shares for you, i promise" Though this still isn't a good position to be in, because now the publishing companies essentially run spotify, so spotify fucked themselves even more lol.