Spotify announced in January 2024 that it paid $10 billion in royalties to artists, a tenfold increase since 2014. The total global recorded music revenues from streaming have surpassed $28 billion, reflecting the tremendous growth in the industry. More than 12,500 artists made over $100,000 last year, with substantial earnings also seen among multilingual music. Spotify highlighted that the revenue sharing model varies and confirmed that while 1 million streams yield about $10,000 in royalties, actual payouts depend on streamshare, emphasizing artist diversity and increased revenue opportunities.
Spotify revealed that in 2024, they paid $10 billion in royalties to artists, reflecting a tenfold increase in yearly payouts since 2014.
With over 12,500 artists earning above $100,000 in royalties last year, the number of lucrative earners has significantly increased from just one in 2017.
Spotify pointed out the trend towards multilingual music, with artists from 50 languages reaching $100,000 in royalties, showcasing diverse interests among listeners globally.
Despite the challenges, 80% of artists earning over $1 million without appearing on Spotify's Global Daily Top 50 chart indicates broader artist recognition beyond mainstream hits.
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