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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 11 months ago by 4realz@lemmy.world to c/technology@lemmy.world

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[–] Albbi@lemmy.ca 26 points 11 months ago (1 children)

My Spotify wrapped had a special message from Weird Al (I know, I have great taste!) with the following:

“It's my understanding that I had over 80 million streams on Spotify this year. So if I'm doing the math right, that means I earned $12, so, you know, enough to get myself a nice sandwich at a restaurant. So from the bottom of my heart, thanks for your support. And, uh, thanks for the sandwich.”

[–] Transcendant@lemmy.world 3 points 11 months ago* (last edited 11 months ago) (1 children)

Spotify iirc pays $0.003 per stream, so for 80m streams he's got $24,000.

If he's got less than that then he should be directing ire at his label or publisher.

[–] scottywh@lemmy.world 4 points 11 months ago

Your math is correct.

Weird Al was exaggerating to make a joke and a point.