Macromedia Flash 1.0 was released the same year as the Space Jam website, I don't think it used .SWFs. In fact I don't remember .SWFs being common until 2002-2003 (but that's my biased viewpoint, since that's when I discovered Newgrounds.)
It wasn’t giving Spotify similar profit, though. Their subscription pricing assumes both a) ads and b) that on average listeners won’t listen more than a certain amount, and will listen relatively broadly such that a single artist isn’t disproportionately rewarded (and thus lots of different artists find it lucrative to be on the platform, increasing its appeal).
In short, this isn’t a “cool infinite money hack” whereby you can pay a subscription fee and make it back with dividends as an artist. Instead, it’s https://xkcd.com/1494/
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