Analyses of income distribution show that around 99% of artists on Spotify earn under 1,000 USD per year from streaming, while only a tiny fraction earn sustainable incomes from recordings alone.

https://www.wrightymedia.com/toolkit-page/income-streams-fro...

In the UK, fewer than about 0.6% of musicians reported making over 10,000 GBP per year from streaming, indicating that most cannot rely on it as a primary income source.

https://www.genadmission.org/articles/how-streaming-saved-th...

Napster literally had less of a financial impact on artists than these streaming services. But record companies are making money so that’s all that matters.