@jaykaydee Happy to be challenged on this, but from what I know, Spotify’s costs keep going up:

"in 2019, Spotify’s revenue increased 26% YoY while royalty payments increased by 30%. The YoY increase in royalty payments is up from the 20% YoY increase in 2018.”

https://www.forbes.com/sites/greatspeculations/2020/10/13/it-sounds-like-spotify-is-in-trouble/?sh=786fff94813b