With Spotify IPO, Labels Expect Massive Windfall. But Will Artists Benefit?

After some 20 years of stumbling through the digital era, the world's biggest record labels are finally poised to get richer, thanks to Spotify's plan to go public. The music-streaming giant, which has 159 million monthly listeners and 73 million paid subscribers, filed for a modified initial public offering Wednesday, known as a direct public listing. If it hits its $23 billion valuation, labels could make hundreds of millions of dollars — particularly Sony, home of Beyoncé and Bru