this post was submitted on 22 Dec 2023
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202
Spotify starts 'disinvesting' in France in response to new music-streaming tax (techcrunch.com)
submitted 10 months ago by [email protected] to c/[email protected]
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[–] [email protected] 27 points 10 months ago

What you are missing is that they are majority owned by the same record companies they are paying out 70% to. They even specifically structured the deals between Spotify and labels so that they pay labels in a way that allows labels not to credit artists for nearly 50% of all streams meaning the label gets to keep it.

Chokepoint capitalism by Cory Doctorow is a great book that goes into detail about how it works