I think it was a tweet from someone in the industry so take what I said with a grain of salt, But it’s believable to me. It’s not like mass appeal has a roster full of well known artists. Nas is probably the biggest artist on the label and I doubt he’s selling/streaming at the same level he was even 10 years ago.
Always been incredibly hard for labels to turn a profit, now more than ever unless you part the international conglomerates.