Many record companies, in their own financial interest, reduced the royalty cost for streams with Spotify in exchange for revenue shares.
I would feel pretty ripped off if I made a big, delicious cake, and as a reward I get one tiny slice while I had to watch everyone else eat the rest. Maybe not if making cakes is just a small hobby for me, but definitely so if it's my career.
If you want to make money in this industry - keep to the old-fashioned methods. Concerts and live performances are what rake in the big money - CDs, Views or whatever useless metric people try to convert to $$ numbers only works in obscene numbers. All else is just trying to get there - and that is usually the dirty and hard part of the music industry.
this analogy doesn't even begin to approximate the real dynamics.
But here, since you're too lazy to look it up or write more than two words:
https://www.musicbusinessworldwide.com/heres-exactly-how-man...
Interestingly, earlier this year several record companies either mostly or fully divested in Spotify, with some companies like Warner getting over half a billion dollars. Reasons are unclear even though they have made vague public statements.