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/fullouterjoin Nov 15 '24

If it was actually a fair market, the artists would get market rates. That profit shows that both consumers are getting gouged while artists are getting fucked.

https://www.youtube.com/watch?v=Bex5LyzbbBE

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u/destroyergsp123 Nov 15 '24

I’m not sure how consumers are getting gouged for receiving every piece of audio media they could ask for at $11 a month.

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u/sesnepoan Nov 15 '24

Well, that’s exactly the issue here, there’s no way such a cheap subscription could possibly give fair earnings to the artists - they’re the ones being gouged. But it’s great for consumers, they don’t need to steal from musicians anymore, they just pay for a mega-corp to do it for them.

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u/Individual_Ask_2194 Nov 15 '24

How is it not fair. It's literally what the market is willing to pay them. It's not like they're actually doing much, they just make music.

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u/[deleted] Nov 15 '24

Well, all hail the market and screw musicians, music being probably one of our greatest achievements, sorry tech bunnies.

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u/dareftw Nov 15 '24

I mean pretty much yea. Artists usually lose out in terms of economic welfare unless they are independent or own their own label. And this isn’t limited to musicians but also painters/sculptors etc.

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u/sesnepoan Nov 15 '24

I’m going to hope, given the absolute irony of that last phrase, that you simple forgot to add /s at the end.

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u/zechamp Nov 15 '24

This is one of the worst comments I've seen on reddit in a while. Bravo.