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Spotify raises premium subscription price for millions (www.bbc.co.uk)

submitted 1 year ago by BrikoX@lemmy.zip to c/worldnews@lemmy.ml

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[-] acceptable_pumpkin@lemmy.world 7 points 1 year ago

To be fair, the Family Premium rate went up by $1/mo. Certainly worth it imho.

[-] SacredHeartAttack@lemmy.world 4 points 1 year ago

But do they really need that extra dollar? They already pay less than a percent to artists. So why?

[-] mim@lemmy.sdf.org 9 points 1 year ago

They also have staff that needs to maintain / improve the IT infrastructure. And those workers also need a salary raise to keep up with rising inflation.

Do you think the songs just magically appear on your device?

[-] CAPSLOCKFTW@lemmy.ml 0 points 1 year ago

do you think most of the money doesn't go to shareholders?

[-] GissaMittJobb@lemmy.ml 6 points 1 year ago* (last edited 1 year ago)

Spotify has never paid a dividend, and a quick search points to that they have done a stock buyback once. I think it's quite safe to say that most of the money does not go to the shareholders.

Most of the money goes to the rights holders, which incidentally happen to be large shareholders in Spotify, but this claim is disingenious.