this post was submitted on 17 Dec 2023
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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 10 months ago by 4realz@lemmy.world to c/technology@lemmy.world
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[–] GamingChairModel@lemmy.world 25 points 10 months ago

There was a very, very brief moment from about 2005 to 2011 or so where there was money to be made directly by artists on iTunes or the other music stores where the tracks were like 99 cents each.

But people stopped buying as soon as Spotify became popular, and now any artist that wants to release on Spotify without a label still doesn't make much money.