this post was submitted on 05 Dec 2023
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Spotify axes 17% of workforce in third round of layoffs this year (apnews.com)
submitted 11 months ago by return2ozma@lemmy.world to c/technology@lemmy.world
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[โ€“] GenEcon@lemm.ee 5 points 11 months ago (1 children)

Spotify made this quarter the first time a profit since it existence. So if you think artists aren't paid enough, its either of these three:

  1. We pay too little for consuming music.

  2. The record labels take a too big share.

  3. Spotify is really inefficient and could pay out more if they work more efficiently.

The only thing not possible is Spotify taking all the profit since they don't make any.

[โ€“] Mahlzeit@feddit.de 4 points 11 months ago

Very true. There's another possibility, though: That pay for certain employees (ie executives) is too high. It may not be included in 3, if the pay is normal. However, that "normal" may be considered immoral, and/or straight market failure,