Spotify is striving to expand its subscriber base to 1 billion, emphasizing the industry's collective effort to normalize music payments. As of 2024, Spotify has contributed $10 billion to the music sector and around $60 billion since its inception. The platform has created opportunities for many artists; over 10,000 now earn more than $100,000 annually from Spotify, compared to just 10,000 that earned $10,000 in 2014. Despite facing criticism over lower payout rates and challenges for new talent, Spotify is on track for its first year of profitability.
In Spotify's view, artists are lucky to have streaming services, each doing its part to normalize the behavior of paying for music.
Spotify estimates that around 10,000 artists generated at least $10,000 per year on the platform in 2014. Now, well over 10,000 generate over $100,000.
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