I agree in theory but practically this is a non-starter as the big 3 record companies are also investors in the company. Even if they weren't however the downside risks of the big 3 not agreeing to renegotiate licensing in the future would be catastrophic to Spotify. This is where I think Tidal got it right both in terms of a business model and something that was good for artists. It's a shame what became of Tidal.