this post was submitted on 17 Dec 2023
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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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[โ€“] ashok36@lemmy.world 2 points 11 months ago (1 children)

Servers and employees. Nothing else. Got it. No office space, no advertising, no royalties.

What a genius business plan. No wonder they're so successful.

[โ€“] wolfshadowheart@slrpnk.net 0 points 11 months ago

Then I'm sure their executives would be happy to take a pay cut to make the business profitable.