I just spent an inordinate amount of time trying to figure out who is the number 1 streaming artist on Spotify. (FYI it’s Justin Bieber). Spotify doesn’t make it very easy to find this out – I ended up getting the figure from Wikipedia. This search led me to the below chart showing how the music industry is making money again through streaming. (link)
What these figures point to is a very complex formula for ever declaring an album as “Number 1”. Gone are the straightforward days of measuring LPs sold. It is a weighted calculation, subject to bias and change over time.
Spotify itself is not making much money. For now the Company is beholden to the record companies (link) for their back catalogues (and to a lesser extent, their A&R and recording infrastructure). But one day perhaps it will break free from this like Netflix has from Hollywood.