That's a tiny amount of money. Or are you going to listen to a million songs for £1? It's still reasonable to batch a few hundred listens for a small transaction every month.
In fact, things are heading the other way, with "micro"-transactions in mainstream games sometimes exceeding the price of the game itself.
In the music business u don't make money on each song, you only make oney from hit songs.
That song streamed 10 million times can earn you $50k. And it could be more if spotify wasn't taking a bite out of it.
[0]: https://www.businessinsider.com/how-much-does-spotify-pay-pe...