What has happened is also an unprecedented breach of contract for older artists out there without streaming provisions in their contracts. I only know of a handful of instances where the artists have addressed this but I know of at least 1 example of a major label contract that specifically says “in the case of unforeseen circumstances (streaming, mind beaming, any new unavailable technology) the artist will split the proceeds 50/50. This same artist is not getting 50% of the revenue and is in fact getting the same (awful) deal as everyone else. [0]
What Spotify/Apple Music/Tidal have done is create the same hierarchy that existed in the days of physical media where they pour money into the top1% of artists and have effectively made everyone else much worse off. [1]
Anyone can make and release music today but it was hardly democratized. They same forces in the record industry have figured out how to screw streaming up in their favor now too.
[0]https://finance.yahoo.com/news/black-sheep-files-class-actio...
[1] https://youtu.be/gDfNRWsMRsU
The 200 million subscribers of Spotify are subsidizing things like Joe Rogans 100 million contract and some of the a lister musicians as part of their 360 deal.