r/Music • u/MarieKittykiti • Nov 15 '24

music Spotify Rakes in $499M Profit After Lowering Artist Royalties Using Bundling Strategy

https://www.headphonesty.com/2024/11/spotify-reports-499m-operating-profit/
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u/Fark_ID Nov 15 '24

Awesome! The direct transfer of half a BILLION dollars from artists to management.

6

u/trowzerss Nov 15 '24

This is why I don't use Spotify. I won't sell artist profits for convenience. More people should do the same.

If you read this and it makes you mad but still use Spotify, what do you think that tells them?

1

u/AnonymousOkapi Nov 16 '24

You can still go to gigs and buy CDs to support artists and have spotify, they are not mutually exclusive.

1

u/trowzerss Nov 16 '24

Yeah, but I don't want to support the spotify model AT ALL. There are other streaming services, I'm not about to support the one that throws money at shitty podcasters, pays almost nothing, doesn't support new artists (instead just throws the same big artists at you over and over), and ties music up with exclusives. I can find what I want elsewhere, that's never been an issue. I mean, it says a ton when even Amazon pays twice as much! AND then I can buy CDs, merch, use stuff like Bandcamp on top of not telling Spotify that what they're doing is all fine and good by giving them numbers.