Spotify, a global online music streaming platform, paid more than N25 billion in royalties to Nigerian artistes in 2023. Jocelyne Muhutu-Remy, Spotify’s Managing Director for Sub-Saharan Africa, disclosed this in a report on Friday.
Spotify’s royalties paid out to Nigerian artists in 2023 were double the previous year’s figure, and she remarked that this is a clear indication of the platform’s significant contribution to the career of Nigerian artistes. She also noted that the number of artists earning over N10 million in annual royalties has quadrupled since 2018.
With the launch of its annual report, “Loud and Clear,” she explained that Spotify is taking a proactive step towards fostering transparency in the music industry. This report will not only disclose Spotify’s royalty payments data but also provide a comprehensive explanation of the global streaming economy and the intricate process involved, thereby empowering artists and music enthusiasts with valuable insights.
“Spotify listeners discovered Nigerian artistes nearly 950 million times in 2023, and Nigerian artistes owned over 80% of the tracks featured on Nigeria’s daily top 50 charts in 2023.
“The significant growth in royalties earned by Nigerian artistes on our platform is a powerful testament to their talent, creativity and global appeal.
Muhutu-Remy noted that while Afrobeats remained king, other genres like Highlife have experienced a huge leap in listenership over the last year.