[threeseed]

It isn't just the big labels. Apple Music has a list of distributors they work with:

https://artists.apple.com/partners

CDBaby is popular where 91% of revenue from Apple, Spotify etc goes to the artist.

So then it seems that the price per stream does make a difference.

[troupo]

Spotify has the same distributors. But the absolute vast majority of money goes to the big labels.