Technically it does? Apple could be taking a 30% cut all Apple Music subscriptions for hosting the application and processing the payment. Apple then gets the remaining 70%.
It’s on multiple platforms, it’s tied to Beats, it has a relationship with iTunes Store, there is advertising involved etc. So there could be multiple licensing and revenue sharing deals that mean Apple Music is not running at a loss.
In fact I think it’s likely than you’re wrong.
Interesting, so Spotify could pay nearly the same simply by paying the 30% to artists instead of Apple.
And of course, those 37 might already be partly paid by Spotify anyway.