Peter Frampton: 55 million streams and I got paid $1700

Devils advocate - if the musicians don't like what they're being paid, they can use an alternate service.

It does seem a fairly competitive market to me. You have Apple Music, Youtube, Spotify, Amazon Music, Pandora etc. Unless those companies are all conspiring against artists/consumers.

Unfortunately network egress does cost money, but consumers are not used to not paying per stream - although perhaps you can make up for it on advertising revenue.