I’m actually doing an essay on this at the moment. You could consider it theft but the record labels normally keep about 80% of the revenue received from Spotify before the musicians get a whiff of it. Also, spotify was launched in 2008, the same year that the ‘vinyl resurgence’ is considered to have began. In the following 7 years, global profit made from vinyl alone has quadrupled. While there are many factors that contribute towards this, it’s worth considering that while streaming services have monopolised music consumption, there seems to be a demand for something tangible for the consumers money. And of course, this means more money for artists. I think that Spotify should pay artists more, though if you try and see Spotify as not being a direct income source, it has some real benefits for artists, though not intentionally.
I’m sure I read somewhere that the guys behind daft punk would only have earned $13000 each from ‘get lucky’ from streams alone, despite being one of the most listened to tracks of that year. This doesn’t seem so bad but consider the amount of money that would have gone into producing that record.
The fact is that most mass media is now consumed through subscription based platforms, Netflix and Spotify being the first to come to mind. It’s certainly a trend that works great for consumers and the platforms themselves, but it’s the artists that seem to suffer.