Lady Gaga spoke about this years ago saying she basically received literal fractions of a cent per stream, and that if she wasn't as gigantic as she is and didn't make money off of merchandising and concerts, streaming would never in a million years allow her career to be self-sufficient and she would require a traditional publisher regardless.
Here's an article about it, which underlines that Spotify pays the artist. Here's a quick breakdown:
Obviously as you might imagine, this reality is devastating for anyone that's not Lady Gaga-levels of fame, because traditional publishers aren't as interested in footing the bill for everything you want to make anymore due to streaming. "Stream my music" is only good for musicians who are hoping they can grow to the volume of selling merch and doing tours. Anyone else has zero chance to make it.
Stream
contracts are nice if you can get one, but there is a fraction of them compared to the volume label records back in the day, which were by no means perfect but at the very least were far more plentiful and you had hundreds of labels per genre to approach.