Agreed, it's also not what an artist gets paid, it's extremely hard (read impossible) to get a direct relationship with Spotify. You require distribution.. that alone takes anything from a flat delivery fee per album per year (the worst prey on independent artists who will rarely ever recoup that per release from spotify, apple and Amazon combined) to 25% of that revenue and a dozen or so other business models inbetween, then if they have a label, the label gets 50%, publisher is taking 25% of the mechanicals or worse you aren't registered at a PRO and that money gets left on the table. Those ~£0.005 per stream (US, UK rates) aren't looking great for most people but that's the reality of what your getting.

So after you've pumped out 6 singles a year, spent £100 a pop promoting those said singles, £50 mastering each single.. how much do these people think 98% of artists are making these days and can be sure of what they may take home every 2 months from these singles. At least with an LP you have a fixed cost and a revenue projection that can be worked out by price per copy.