4realz@lemmy.world to Technology@lemmy.worldEnglish · 7 months agoSpotify 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.comexternal-linkmessage-square27fedilinkarrow-up111arrow-down12
arrow-up19arrow-down1external-linkSpotify 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.com4realz@lemmy.world to Technology@lemmy.worldEnglish · 7 months agomessage-square27fedilink
minus-squareMango@lemmy.worldlinkfedilinkEnglisharrow-up0·7 months agoWhat does a record company even do? Why do they have rights?
minus-squarerigatti@lemmy.worldlinkfedilinkEnglisharrow-up0·7 months agoBasically they fund artists to record and then handle things like promotion.
minus-squareMango@lemmy.worldlinkfedilinkEnglisharrow-up0·7 months agoYo. I can be a record label. Come hang out in my apartment while I pay the bills and BAM! I get all the royalties! Sounds like stealing with extra steps. Actually it sounds like just being rewarded for having money to begin with.
minus-squareclgoh@lemmy.calinkfedilinkEnglisharrow-up0arrow-down2·7 months ago Actually it sounds like just being rewarded for having money to begin with. That’s most of the economy.
What does a record company even do? Why do they have rights?
Basically they fund artists to record and then handle things like promotion.
Yo. I can be a record label. Come hang out in my apartment while I pay the bills and BAM! I get all the royalties!
Sounds like stealing with extra steps. Actually it sounds like just being rewarded for having money to begin with.
That’s most of the economy.