Spotify's 2024 Loud & Clear report reveals that over $10 billion was paid to the music industry, with artists earning more from streams than a decade ago. For the first time, artists making one in every million streams averaged over $10,000. However, criticism remains from songwriters regarding decreasing royalties, with estimates suggesting a loss of $150 million in a year due to recent changes. Comparatively, Spotify’s payout per 1,000 streams trails behind competitors like Apple Music, leading to ongoing discussions about fair compensation for artists.
"For the first time ever, an artist who received one in every million streams on Spotify generated over $10,000 on average in 2024, which is 10x what the same streamshare would have generated a decade ago."
"Spotify's new report attempts to dismiss these reports and concerns. The report details the company's payout model to explain how artists and publishers earn revenue on its platform."
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