If Spotify is in fact spending 75% of its revenue on royalties, but according to you less than 25% of it arrives at the artist, what does that tell you? Either

If Spotify is in fact spending 75% of its revenue on royalties, but according to you less than 25% of it arrives at the artist, what does that tell you? Either your calculation is wrong, or somebody who is not Spotify is pocketing the difference.