this post was submitted on 05 Dec 2023
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Classic that once wrapped is out to everyone they fire a huge amount of there workforce just a few weeks before Christmas. Shows why the streaming model is a sham.
I know the sentiment that you are conveying, and I understand each of the words in your comment individually, but I honestly have no idea what you're saying here.
I think Wrapped is like youtube rewind for spotify.They are talking about how the layoffs happened just after they finished working on that?
Though I think it is less the streaming model being a scam and more the way Spotify is taking all the profit and avoiding to properly pay out smaller creators.
Spotify made this quarter the first time a profit since it existence. So if you think artists aren't paid enough, its either of these three:
We pay too little for consuming music.
The record labels take a too big share.
Spotify is really inefficient and could pay out more if they work more efficiently.
The only thing not possible is Spotify taking all the profit since they don't make any.
Very true. There's another possibility, though: That pay for certain employees (ie executives) is too high. It may not be included in 3, if the pay is normal. However, that "normal" may be considered immoral, and/or straight market failure,