In January, Spotify revealed that in 2024 it paid $ 10 billion to the alone artists in royalty, and today, the company highlighted the data more.
The annual payment for the music industry has increased ten times since 2014, with over 12,500 artists produce more than $ 100,000 in royalty last year.
Spotify said that a lot has changed in the last decade. Global recorded music revenue from streaming in 2014 was $ 13 billion, of which $ 1b was contributed by Swedish company. Since then, the revenue in 2023 has doubled from double to $ 28 billion, with more than 500 million payment in all music platforms with listeners.
Keeping this in mind, there are more than 200 artists who have crossed the threshold of $ 5 million. Back in 2017, there was only one. The $ 1 million barrier was passed by 1,500 artists.
Spotify has paid $ 4.5 billion to publish rights holders in the last two years. This includes lyricists, publishers, professionals (performing rights organizations, unions of artists), and other collected societies.
Among the 1,500 artists seen in the USD, 80% of them did not have a song, which reached the Spotiff Global Daily Top 50 Charts-one of the most popular playlists at the stage. They are not only inheritance artists, including actively visiting musicians with actual acts in 2024.
Spotify indicated another interesting trend: widespread interest in multilingual music. Back in 2017, only the songs in English and Spanish crossed $ 100 million in royalty. In 2024, there were eight languages ​​- English, Spanish, Italian, Japanese, Korean, French, Portuguese and German.
The threshold of $ 1 million in royalty was crossed by music in 17 languages, while in 50 languages ​​it reached a mark of $ 100,000 by artists.
Spotify confirmed how much the cost of a stream (playing a song). 1 million sections are equal to $ 10,000, which is USD 0.01, or 1 US percent. However, it is not a flat rate, and the payment is based on streamshears, as the company explained, a certain per-stream rate is not viable because listeners do not pay the song per song that they hear.
About a quarter of the global recorded music revenue today comes from Spotify, above 15% in 2017. Total number of physical sales, touring, merchants, sinks and other sources include the major condition of Spotify in the industry.
