There's much more to the whole process. Firs to earn something per play there need to be ads that finance it. Then imagine the technical hurdle and cost to host such a platform (ie Spotify cut) and then you actually being worth a damn as an artist.
1M views might seem like a lot, but actually its quite a limited resource for serving ads. The other thing here is that most artists wouldn't have a single view if it wasn't for one or the other distributor. Basically, the barrier is so low to entry and the risk is dispersed across a million other artists so you all get a very diluted value per view. But at least you get value per view. Otherwise, it would have been an all or nothing business, like it used to be. It's the same effect the app stores had for software devs.
In essence, you get low fees because those funds pay for the distribution and risk that is dispersed. The general pay scale is a hockey stick with the last couple % making the majority of the money.
Since you even got the opportunity to get in front of an audience, use it wisely as you need to pump those numbers up. It's a numbers game and your numbers are too low. You need double-digit millions to make a good living off of it. And that's just what it takes. It's not easy, not everyone will make it above the fold, for whatever reason life, luck, marketing...