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?

[–] SacredHeartAttack@lemmy.world 1 points 1 year ago (1 children)

No, i think hard working artists like me put them there, and pay for the ability to do so. I'm not saying people that work at Spotify don't deserve a paycheck, i'm saying the artists need a larger one.

[–] mim@lemmy.sdf.org 2 points 1 year ago

Artists do definitely get shafted when it comes to royalties. But let's not pretend they don't need to raise prices at this point. The last one was in 2011, which means that they were probably burning investor's money to be able to afford that.

[–] CAPSLOCKFTW@lemmy.ml 0 points 1 year ago (2 children)

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

[–] GissaMittJobb@lemmy.ml 5 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.

[–] redcalcium@lemmy.institute 3 points 1 year ago

They did have $1B stock buyback in 2021. They don't pay dividends though.