The 2024 Spotify Music Economics Report presents a significant milestone with the platform’s payout reaching $10 billion, highlighting how this accounts for one-sixth of their total $60 billion lifetime payouts. The report emphasizes transparency in music streaming economics, showcasing the increasing number of artists earning royalties, which have tripled since 2017. Notably, the royalties for the 10,000th-ranked artist surged from $34K to $131K during this period. Additionally, Spotify compares its vast artist catalog to the limited selections of the CD era, advocating for long-tail artists in the streaming world.
The year 2024 saw Spotify achieving a historic payout of $10 billion, significantly contributing to a total of $60 billion in lifetime royalty payouts.
As Spotify highlights, the number of artists generating royalties at every threshold has tripled since 2017, illustrating a growing landscape for musicians.
The 10,000th-ranked artist's royalties have increased almost 4x in the same period, showcasing the benefits of streaming for previously lesser-known artists.
Spotify underscores the disparity between its support for artists and the CD era, where only 50,000 CDs were available compared to over 100,000 artists on Spotify.
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