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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[–] Plopp@lemmy.world 5 points 10 months ago (1 children)

You don't need to give up the rights to your music to a third party for them to do marketing or handling legal matters for you. You just need to pay them for their services. And you should be able to choose from several competitors in the market, based on what they offer and what you want/need/can afford. So yeah, record labels shouldn't exist anymore.

[–] nihth@programming.dev 1 points 10 months ago (1 children)

It's not needed, but for some reason artists keep signing, so there is probably something they provide that makes it worth it

[–] Plopp@lemmy.world 2 points 10 months ago

It's because it's the only game in town.