Why Sony and Universal Profit from Your music - even if you’re not signed Major labels like Universal and Sony own shares in Spotify, with Universal holding 3.27% in 2023, worth around $3 billion. These financial ties raise concerns about revenue distribution. While there’s no direct proof that indie artists’ earnings go to major labels, Spotify’s agreements with them might influence payout structures. The exact distribution remains unclear due to the lack of transparency in the music industry.