Historic revenue from Spotify: Amount paid to artists revealed
The world's largest music platform, Spotify, has released its 2024 Loud & Clear report. According to the report, Spotify generated a total of 9 billion dollars in revenue for artists in 2023. This figure has gone down in history as the highest annual revenue Spotify has ever paid to artists.
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Spotify has released its music streaming economy report titled Loud & Clear for 2024. Spotify provided a total of 9 billion dollars in revenue to artists last year.
According to the report, as reported by Webtekno, artists on Spotify whose native language is not English make up more than half of the artists who earned 10 thousand dollars or more. Another rising group is independent artists. While independent artists, without being affiliated with any label, earned a total of nearly 4.5 billion dollars in 2023, for the first time, half of the fees distributed by Spotify to artists went to independent artists.