All of the big three record labels own 5% or larger shares of Spotify according to the article you shared.
They've been selling their stakes. Here's a link to an article that says Sony sold 75% of its stake, and Warner Music also sold:
https://www.vox.com/2018/5/7/17326590/spotify-warner-sony-equity-sales
Curb sold 100% last year, and shared its profits with its artists.
Here's another link about Warner:
https://variety.com/2018/biz/news/warner-music-group-sells-entire-stake-in-spotify-1202897605/#
Here's an article about UMG selling its shares:
https://www.musicbusinessworldwide....when-we-sell-our-stock-in-streaming-platform/