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.

@4realz@lemmy.world · 1 year ago

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.

@can@sh.itjust.works · edit-2 1 year ago

Well, their CEO Daniel Ek’s investment company Prima Materia "invested €100 million ($114 million USD) in Helsing, an artificial intelligence company based out of Europe that assists in military technological ventures. "

So I’m happy to take my *streaming business elsewhere.

@blazeknave@lemmy.world · 1 year ago

After being the earliest adopter of free and paid that I know personally (and I work in tech), Joe Rogan was the nail in the coffin for me. I was already paying for YouTube premium (download for subway, and close screen while playing) and saw music was included so the decision was simple.

@hexual@lemmy.world · 1 year ago

This was also exactly why I moved away from Spotify.

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.

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.

Why Spotify Struggles to Make Money from Music Streaming