I was checking the Artist Ally Summit 2026 at sister site cause i saw in the comments people are saying that can have a good info, and what i found on the chapter 2 - Marketing and Fanbase Development, in the "Spotify for Artists presents Loud Clear - Breaking Down the Streaming Economy" (which i found weird cause in the first ones the focus was gain ground on spotify ) they told this:

1. The “pay-per-stream” myth
Spotify finally admits in this video that they don't pay a fixed rate per stream (like the famous $0.003).
The reality: They pay based on “market share.” If, in a given month, [ARTIST NAME] [“SONG NAME”] accounts for 0.01% of all streams in [COUNTRY NAME], you get 0.01% of that market’s revenue pool.

3. The Role of Major Labels vs. Independent Labels
Spotify washes its hands of the matter, saying that it pays the rights holders (distributors or labels) and that if the artist receives little, it is because of their contract with those entities.

This kinda explains why the label takes more money than you xd

What do you think? Of course, Spotify is stepping in to try to save face