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 · 9 months 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.

LemmyLinks@lemmy.world · 9 months ago

My take is Spotify hired over 5,000 employees over 2020 and 2021 when the economy looked great.

Every tech company did this because people were staying at home and usage of apps and online services exploded. We had nothing else to do. These apps do not run themselves.

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