this post was submitted on 17 Dec 2023
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556
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 1 year ago by [email protected] to c/[email protected]
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[–] can 21 points 1 year ago* (last edited 1 year ago) (2 children)

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.

[–] [email protected] 9 points 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.

[–] [email protected] 2 points 1 year ago

This was also exactly why I moved away from Spotify.