I strongly suspect the record labels are still siphoning off most the revenue for Spotify et al.

Whatever deals they cut probably sap the lion's share of the profit, leaving a small pie for the indies to slice amongst themselves.

And of the share they get, I bet a large chunk stays with the label rather than passing through to Gaga and company.

I'd really like to see some numbers on that, but of course they'll never be made public. Which tells the tale on its own, really.