Spotify, a number one digital music, podcast, and video streaming service that grants customers entry to hundreds of thousands of songs and different content material from creators worldwide, has launched information on the royalties earned by Nigerian singers on the platform in 2024.
The streaming platform highlighted this determine in its 2024 Loud & Clear announcement occasion, which came about Thursday in Lagos.
In accordance with Spotify, Nigerian artistes earned over N58 billion in 2024—greater than double the quantity recorded in 2023 and 5 occasions larger than in 2022.
In addition they revealed that the variety of artistes producing not less than N10 million in royalties from Spotify doubled in comparison with 2023 and tripled the figures from 2022.
Highlights
Spotify additionally revealed that first-time listeners found Nigerian artistes over one billion occasions on the streaming platform.
Moreover, it said that greater than 1,900 Nigerian artistes have been added to Spotify’s editorial playlists—a rise of 33 p.c in comparison with 2023.
The streaming platform additionally highlighted that a good portion of the N58 billion in royalties earned by the artistes got here from listeners outdoors Nigeria.
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Spotify additionally underscored the worldwide cultural affect of Nigerian music, noting that worldwide listeners spent over 1.1 million hours streaming songs by Nigerian artistes.
Moreover, it said that streaming platform customers created roughly 250 million playlists that includes Nigerian artistes worldwide.
“Nigerian artistes have seen a 49 per cent export development over the previous three years. Native consumption of Nigerian content material has grown 206 per cent year-over-year, with a outstanding 782 per cent improve over the previous three years
“This unprecedented monetary success displays the dynamic creativity rising from Nigeria’s music scene and indicators Spotify’s ongoing dedication to supporting creative expertise throughout the area”, the report added.
The report said that elevated world recognition, distinguished playlist placements, and substantial development in music exports fueled monetary success.
It additionally underscores Nigeria’s rising affect as a worldwide music powerhouse and reaffirms Spotify’s dedication to supporting its artists.
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Empowerment
Jocelyne Muhutu-Remy, Spotify’s Managing Director for Sub-Saharan Africa, emphasised that the monetary milestone highlighted the worldwide industrial enlargement of Nigerian music.
He mentioned, “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 assist its continued rise.”
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