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Spotify now has 220 million paying subscribers
(www.theverge.com)
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this post was submitted on 25 Jul 2023
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It's revenue share based on how many streams you get. Big record labels can probably negotiate a better share, but if you sign to one there's no guarantee you will actually see that extra money.
Record labels ripping off music artists was incredibly common in the time before streaming, so I imagine it still is today.