[wickawic]

With apple mucic 100% of the money goes to the label. The label then has a contract with the artist for how much online sales get sent their way. This contract may be very complicated so it isn’t necessarily “I pay $1, artist gets $.20”. Artists and labels will have different agreements with each streaming service for how many plays equal one “download”, from ~10 to ~1000.

[KozmoNau7]

It's the same problem on all the streaming services. The deals are done with the labels, so even if the payment for each playback is reasonable, the label takes a huge cut.