By Eniola Daniel
13 March 2025 |
1:12 pm
Past the cultural affect the Nigerian music trade has on the worldwide music scene, artistes from the nation have continued to smile to the financial institution. Final 12 months, artistes in Nigeria made N58 billion, recording 1.1 million listening hours. This was made identified by the Spotify workforce in its yearly ‘Loud & Clear’ announcement, an occasion…
Past the cultural affect the Nigerian music trade has on the worldwide music scene, artistes from the nation have continued to smile to the financial institution.
Final 12 months, artistes in Nigeria made N58 billion, recording 1.1 million listening hours.
This was made identified by the Spotify workforce in its yearly ‘Loud & Clear’ announcement, an occasion that shares information on Spotify’s royalty funds and breaks down the worldwide streaming economic system.
The quantity made doubled the determine from 2023 and was 5 occasions better than in 2022. This staggering determine headlines Spotify’s 2024 ‘Loud & Clear’ report, launched as we speak.
The report additionally reveals that the variety of Nigerian artistes producing N10 million in royalties from Spotify has greater than doubled since 2023 and greater than tripled in comparison with 2022 figures, underscoring the explosive industrial development of Nigerian music globally.
Talking in Victoria Island, Lagos, Managing Director of Spotify’s Sub-Saharan Africa, Jocelyne Muhutu-Remy, stated, “We stay dedicated to empowering Nigerian artists to earn from their artwork while sustaining transparency with artists and stakeholders.
“The unbelievable development of Nigerian music, each regionally and globally, is a testomony to the expertise and creativity inside Nigeria, and we’re proud to help its continued rise.”
The important thing monetary highlights from the 2024 report point out that Nigerian artistes had been found by first-time listeners over one billion occasions on Spotify in 2024.
Greater than 1,900 Nigerian artistes had been added to Spotify editorial playlists—33% greater than in 2023.
A good portion of the N58 billion in royalties earned by Nigerian artistes got here from listeners outdoors Nigeria.The report additionally highlights the broader cultural affect of Nigerian music, with international listeners, on common, spending over 1.1 million hours streaming Nigerian artistes.
Customers have additionally created roughly 250 million playlists that includes Nigerian artistes worldwide.
Nigerian artistes have seen a 49% export development over the previous three years.Native consumption of Nigerian content material has grown 206% year-over-year, with a exceptional 782% enhance over the previous three years.
This unprecedented monetary success displays the dynamic creativity rising from Nigeria’s music scene and alerts Spotify’s ongoing dedication to supporting inventive expertise throughout the area.
