Many labels own equity in Spotify. Those royalties just go back to them. Those equity deals are controversial among artists big and small. [1] Most labels that

Many labels own equity in Spotify. Those royalties just go back to them. Those equity deals are controversial among artists big and small. [1] Most labels that invested in Spotify cashed out and sold in the IPO. It was hugely lucrative! In retrospect it looks like the right choice but what does it all mean? [2] There is no certainty about Spotify's performance in public markets. Netflix's original content push was fundamentally vanity-driven. If you're going to permit hindsight and say "That was a good idea," House of Cards's lead actor was a well-known predator even then, just not yet disgraced. So the success of original content, which literally everyone at Netflix is incentivized to make you believe occurred due to the sheer brilliance of blowing $100 million on a TV show, is undoubtedly as much attributable to exquisitely good timing as anything else. All the other comments don't really know what they're talking about. [1] https://www.theguardian.com/business/2018/nov/24/taylor-swift-blow-fellow-artists-streaming-revenues-soar-universal-spotify https://www.theguardian.com/business/2018/nov/24/taylor-swif... [2] http://copyright.nova.edu/spotify-stock/ http://copyright.nova.edu/spotify-stock/