Around two-thirds of Spotify's revenue goes to rights holders, including record labels, artists, and songwriters.

Spotify has long been the subject of criticism over complaints that it doesn't pay enough money to musicians.

Spotify took 18 years to reach profitability—and roughly 70% of its revenue goes to rights holders.

Spotify's success turned Swedish entrepreneur Daniel Ek into a billionaire in his mid-30s.

Read a user's review of the differences between Spotify and its closest rival, Apple Music.

Watch Gayle King interview Spotify CEO Daniel Ek to talk about various issues the company has faced.

Spotify went public in 2018 with a direct listing rather than a traditional IPO.

Peloton pays artists more for music than most streaming platforms because the on-demand classes are technically live performances, so Peloton has to pay both for the rights to the song itself and for the right to actually play the song.

Netflix is the dominant streaming service

As of 2025, Netflix had amassed more than 300 million subscribers globally and saw quarterly revenue over $11B.

The NFL makes most of its money through media licensing deals

The NFL, which reportedly earned more than $20B in 2023, generates its revenue through several key streams. The largest comes from media licensing deals, where networks and streaming platforms pay billions for the rights to broadcast games. Corporate sponsorships are another major contributor.

Spotify founder Daniel Ek was raised in Sweden by a single mother.

Billboard’s Hot 100 methodology is notoriously private

The magazine’s singles chart is based on on-demand streams (from platforms like Spotify), digital sales (from stores like iTunes), and radio airplay. Not all of those sources are weighted equally, though—sales are more important than airplay, and airplay is more significant than streams. In 2018, Billboard began weighing streams from premium subscriptions more heavily than free streams (like listening to a song on Pandora).

Read about how Spotify creates niche genres, from 'Webcore' to 'Phonk.'

Billboard began incorporating streaming in 2007

For nearly 50 years, the Billboard charts primarily relied on radio airplay and retail sales. But in 2007, the magazine began incorporating early streaming services AOL Music and Yahoo! Music into its methodology, and later worked with Spotify, YouTube, and other platforms. A single stream was not weighed as heavily as a purchase of a physical CD or vinyl record. Still, streaming’s impact became evident when songs with minimal radio airplay began climbing the charts, as seen with Baauer’s “Harlem Shake,” which did exceptionally well on YouTube.

The world's top streaming services (by subscriber count)

With almost 270 million paying users, Netflix is the dominant force in streaming entertainment. But after enjoying a first-mover advantage for years, competitors are beginning to catch up. Most notable is Amazon, which leverages its Prime subscriptions to bundle Prime Video, and has amassed an estimated 200 million users. See an updated tracker of the world's biggest platforms by audience.

An intern had the original idea for Spotify's viral 'Wrapped' stories—and was never compensated for it.

A small fraction of creators make money on YouTube

YouTube has become one of the world's leading entertainment platforms almost entirely on the back of users who upload their own content. An estimated 3.7 million new videos get uploaded to YouTube each day, but only a small, very popular fraction are able to make money from their content.

BTS makes big profits, and spends just as big

While the band has been on hiatus since 2022, there are remarkable insights into the band’s success, like a $44M profit from a six-show tour. Their profits allow them massive spending, with investments like a shared mansion in addition to owning their own multimillion-dollar apartments.

The creator economy—which is projected to be worth as much as $480B by 2027—is a system powered by people creating online content for monetizable audiences.

Peloton makes most of its money via monthly subscriptions

Peloton has two core revenue streams: the exercise equipment it sells and the company's monthly subscription that gives users access to its class library. More than half of Peloton's revenue comes from the company's core product, the monthly subscription. Its "Peloton App+" membership tier is $28.99 per month.

YouTube no longer provides data to Billboard

Billboard began using data from YouTube in 2013, tracking the platform’s most popular songs as it became a hub for listeners. That relationship ended in January 2026, when YouTube announced it was ending the partnership, citing a disagreement over how Billboard weighted premium users more heavily than free users.

Amazon's largest profit engine is its cloud-computing platform Amazon Web Services, which generated over 60% of Amazon's total operating income in 2024.

The majority of Meta's revenue comes from advertising

Since introducing Facebook Ads in 2007, ads have become the main way Meta makes money and keeps the social media platforms free for users. Meta's targeted ad program allows businesses to set a maximum advertising budget and be charged only for the actual number of impressions an ad receives. In 2025, $196.175B of Meta's $200.966B annual revenue came from advertising.

Watch this video to find out how Taylor Swift became a billionaire from her musical empire.

The way dating apps make money is changing

As downloads fall across the industry, dating apps are trying to stay competitive by adding paywalls to their business models. The more than $6B dating app industry is largely dominated by Match Group, the parent company of both Tinder and Hinge. This video explores how AI and human behavior are changing the industry one right swipe at a time.

See Spotify's most-streamed albums to date, from Bad Bunny's 'Un Verano Sin Ti' to Olivia Rodrigo's 'Sour.'

As of 2024, server products and cloud services make up 40% of Microsoft's revenue

These products generated $97.7B in the 2023-24 fiscal year, followed by office products and cloud services, which accounted for $54.9B during the same period. The fastest-growing revenue source was gaming at 39%, driven by sales of Xbox and first-party software.

Spotify founder Daniel Ek has shadowed other founders like Mark Zuckerberg, taking meeting notes for them and even getting them coffee.

While influencers try to make money off of their posts, that's not always the case for content creators.

Although no longer the dominant format, CDs are increasingly popular with younger people.

TikTok isn't factored into a song's rank on the Billboard charts, but it can have an impact

Billboard ranks a song's chart position based on its radio airplay, its physical sales, and its streaming numbers (across Spotify and other platforms), but doesn't include user-generated content, meaning it doesn't include TikTok videos. Keith Caulfield, Billboard's managing director of charts and data operations, notes that TikTok still has an impact, though, because listeners will often stream the app's most popular songs on other platforms.

Roughly 39% of Visa's revenue comes from data processing fees.

Visa gets roughly 0.13% to 0.14% of each transaction. About 32% of its revenue stems from the money banks pay Visa to use its services, and roughly 26% of its revenue comes from international transaction fees.

See which Apple products drive the most of its $391B revenue.

One of the most important pieces of Amazon’s corporate empire? Its Prime subscription business

Prime drives customer loyalty and boosts Amazon’s revenue through its monthly and yearly fees. The key components included with a Prime subscription include free two-day shipping on eligible items, as well as access to services like Amazon Music and Prime Video.

College football generates over $13B annually—but many programs run at a loss.

See a breakdown of Tencent's revenue streams, which include fintech, advertising, games, and social.

Targeted ads accounted for 80% of Google's parent company's total revenue in 2020

Ads in Google Search, YouTube, and other products brought in $147B for Alphabet, with ad click costs ranging from $7 to several hundred dollars. YouTube's ad revenue alone jumped 49% year-over-year in one quarter.

Spotify and AncestryDNA launched a genetic music playlist offering

The playlist offering in 2018 purported to make a unique playlist based on cultural inheritance. The service required users to link their account, select the top five ethnic regions from their AncestryDNA results, and then Spotify would create the playlist based on that data.

Content frequently disappears from streaming services due to rights negotiations and tax incentives.

Charting where federal revenue comes from

About 50 percent of federal revenue comes from individual income taxes, 7 percent from corporate income taxes, and another 36 percent from payroll taxes that fund social insurance programs. See breakdown in charts here.

Inside the rise of focus music

Any casual YouTube or Spotify user has likely stumbled upon a playlist called "lo-fi beats to study and relax to" while searching for new music. Those "lo-fi beats" actually represent a growing genre of music called "focus music." Spotify, for instance. saw a 50% increase in listening time for focus playlists in its 2023 Wrapped report. This article explains why productivity tunes are on an upswing right now. Read it here.

Twitch is a live-streaming platform popularized via the broadcast of esports events and users playing video games.

The 'Big Three' asset managers—Vanguard, State Street, and BlackRock—collectively manage more than $30T in assets and are the largest shareholders in roughly 88% of all the companies listed on the S&P 500.

S&P Global, the company that makes the S&P 500, is listed on the S&P 500

When the S&P 500 index was released in 1957, it was helpful for investors, but not necessarily profitable. S&P Global now makes more than $1B a year just from selling its index data. Alongside its other services, like credit ratings, S&P Global makes more than $14B a year.

Individual income taxes are the federal government's primary revenue source, see a tracker that breaks down where the rest of the budget comes from

The US government historically makes nearly half of its total revenue last year from individual income taxes. But the US makes also makes money from a variety of other sources, including Medicare taxes and corporate income taxes. However, the federal government has run a deficit since 2001—reaching a peak of $3.13T in 2020.

Why Metallica sued Napster—and enraged music fans

When Lars Ulrich, the drummer for metal legends Metallica, began his press campaign against Napster, an early filesharing software, he said he was fighting for artists. Listeners weren't convinced, especially because data suggested that filesharing services helped record sales rather than hinder them. This history of the ordeal contextualizes more modern problems in the music business, especially considering streaming services like Spotify were initially seen as a solution to illegal filesharing.

Blackpink are the most followed female group on Spotify

The widespread popularity of the four-piece girl group Blackpink has built a large community of fans—called Blink—and proven the success of unconventional marketing strategies. Instead of producing a wealth of content and new material, Blackpink releases albums slowly, building tension for their fans. During their musical breaks, the women continue to build on their icon status, working with luxury brands like Chanel or even guest-starring in major American TV shows like “The Idol.”

Explore the niche music genres, including 'Spanish synthpop' and 'South Dakota indie,' that Spotify uses to tag its music.

Ranking the world's highest paid athletes in 2022

The top 100 highest-paid athletes in the world include players from 10 sports and 24 countries. They earned $4.46 billion in total income, including $3.24 billion in salary and prize money, as well…

TikTok boasts nearly 1.8B monthly users

The app has surged in popularity recently, with usage surging during the COVID-19 pandemic. Those users have generated high revenues, too, with over $23B in 2024.

Music today is often intended to circulate on social media

Artists are increasingly using TikTok and other short form video platforms as a space to promote their music. One scholar notes this emphasis, and connect it to Taylor Swift's early use of social media to promote her own work and brand.