• BraveSirZaphod@kbin.social
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    1 year ago

    Spotify is not profitable right now; their current revenue doesn’t come anywhere close to covering their costs. The only reason they’re able to survive is investors holding on to the belief that, some day, it’ll be possible to actually make the numbers work.

    • 𝒍𝒆𝒎𝒂𝒏𝒏@lemmy.one
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      1 year ago

      The majority of their investors are record labels now, so there’s also an incentive to prevent competing streamers from taking Spotify’s position