So lets assume they make $65 million in profit every quarter between when that article came out and April 21 2026 (the period the article states they were doing buybacks). I count 18 quarters in that period. So if my math is correct that is $1.17 billion in “profit” in the same period of time they plan to do $1 billion in stock buybacks. But artists are only getting 70% of said profits. So that’s about $819 million to artists in the same period of time Spotify is doing $1 billion in stock buybacks.
So we have a mega corporation playing creative accounting and doing stock buybacks instead of paying artists more. Classic.
lets assume they make $65 million in profit every quarter
Where do you get this number from?
Hasn’t Spotify been operating at a loss for most of its existence? Wouldn’t that mean they paid 0€ to its creators most quaters (if it was actually calculated off profit)?
They’re a public company, they’re required by law to share financial info.
Do you perhaps have better data though?
From what I understand that 70% they’re paying artists is from “profit.”
And from another comment in this thread:
And then you have stuff like this:
https://techcrunch.com/2021/08/20/spotify-to-spend-1b-buying-its-own-stock/
So lets assume they make $65 million in profit every quarter between when that article came out and April 21 2026 (the period the article states they were doing buybacks). I count 18 quarters in that period. So if my math is correct that is $1.17 billion in “profit” in the same period of time they plan to do $1 billion in stock buybacks. But artists are only getting 70% of said profits. So that’s about $819 million to artists in the same period of time Spotify is doing $1 billion in stock buybacks.
So we have a mega corporation playing creative accounting and doing stock buybacks instead of paying artists more. Classic.
Where do you get this number from?
Hasn’t Spotify been operating at a loss for most of its existence? Wouldn’t that mean they paid 0€ to its creators most quaters (if it was actually calculated off profit)?