If you look at the numbers of how many people listen to radio I think this is a fair number. Each song on the radio is pushed to thousands and more of listeners at once on a station. The daily listener reach of big stations is essily in the millions. Spotify is a drop in the ocean compared to radio
This is not true IMHO. You need approximately 4 million plays per month to get the equivalent of Californian minimum wage! [1]
[1] https://mashable.com/2018/01/31/copyright-court-rules-stream...
Edit: You might get might more if you own all the rights yourself but not many artists do.