They're both streaming services and both have ads. Why hasn't Spotify made any profit yet?

I don't get it.

no lil' mama

Pretty sure ads are more expensive in YouTube than in Spotify.

YouTube has ads before videos, during videos essentially interrupting them, and sometimes ads are part of the real video.

Girl...

I've read many times that YouTube actually makes a loss. Not sure how true it is.

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Spotify has to pay much more to get the ''rights'' to upload the music. Labels (and users) upload music videos themselves on YouTube.

I deleted my Spotify because there were too many ads interrupting my bops, so that can't be it

One of the world's greatest unsolved mysteries

Spotify pays much more royalties to labels and artists per stream than Youtube

Spotify doesn't make any profit? Is that for real?

Basically what slobro, Overdose, jomarr and PoKiTaurus said

Aren't most of these ads about Spotify Premium though. They're advertising themselves basically, so no (instant) income there

It doesn't. YouTube operates at a loss.
There's a reason their customer support is not based.

Youtube has achieved longer mainstream dominance than Spotify.

Youtube is driven by user created content, while also paying much much less to copyright holders. Not to mention, Youtube is also immensely more popular than Spotify. The numbers don't even come close. Also, being owned by Google/Alphabet doesn't hurt.

YouTube actually makes a loss. The only reason why YouTube and ads is due to the fact that they have to pay the content creators.

I looked at one of ADoseOfBuckley's videos and he said it.