678 Million Users, No Business Model - Why Spotify Exploits Artists

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Spotify is by far the most popular audio streaming platform in the world. Despite their sketchy roots, they’ve gone on to redefine the music industry and how streaming is monetized, but it’s not all good news. You see, despite Spotify’s mainstream success, the company has never been profitable. In fact, 2024 was their first profitable year, 18 years after they were founded. As a public company, pressure to monetize well is higher than ever for Spotify, which has led to some pretty shady practices. For starters, the streaming industry as a whole has largely reduced the earnings potential of top artists compared to traditional album sales. But Spotify has made this worse for up-and-coming artists by letting them compete with internally produced music that they push much harder, as they don’t have to pay royalties for these pieces. This video explains the dark sides of Spotify and why artists aren’t the biggest fans of Spotify.

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Timestamps:
0:00 - The Truth About Spotify
0:35 - Profits, With A “Cost”
4:49 - Fake Artists?
8:55 - The “Loophole”

Resources:
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