It's common knowledge. I don't need to provide a citation every time I bring it up. But here, since you're too lazy to look it up or write more than two words:

It's common knowledge. I don't need to provide a citation every time I bring it up. But here, since you're too lazy to look it up or write more than two words: https://www.musicbusinessworldwide.com/heres-exactly-how-many-shares-the-major-labels-and-merlin-bought-in-spotify-and-what-we-think-those-stakes-are-worth-now/ https://www.musicbusinessworldwide.com/heres-exactly-how-man... Interestingly, earlier this year several record companies either mostly or fully divested in Spotify, with some companies like Warner getting over half a billion dollars. Reasons are unclear even though they have made vague public statements.