Spotify, a leading digital music, podcast, and video streaming service that grants users access to millions of songs and other content from creators worldwide, has released data on the royalties earned by Nigerian singers on the platform in 2024.
The streaming platform highlighted this figure in its 2024 Loud & Clear announcement event, which took place Thursday in Lagos.
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According to Spotify, Nigerian artistes earned over N58 billion in 2024—more than double the amount recorded in 2023 and five times higher than in 2022.
They also revealed that the number of artistes generating at least N10 million in royalties from Spotify doubled compared to 2023 and tripled the figures from 2022.
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Highlights
Spotify also revealed that first-time listeners discovered Nigerian artistes over one billion times on the streaming platform.
Additionally, it stated that more than 1,900 Nigerian artistes were added to Spotify’s editorial playlists—an increase of 33 percent compared to 2023.
The streaming platform also highlighted that a significant portion of the N58 billion in royalties earned by the artistes came from listeners outside Nigeria.
Spotify also underscored the global cultural influence of Nigerian music, noting that international listeners spent over 1.1 million hours streaming songs by Nigerian artistes.
Furthermore, it stated that streaming platform users created approximately 250 million playlists featuring Nigerian artistes worldwide.
“Nigerian artistes have seen a 49 per cent export growth over the past three years. Local consumption of Nigerian content has grown 206 per cent year-over-year, with a remarkable 782 per cent increase over the past three years
“This unprecedented financial success reflects the dynamic creativity emerging from Nigeria’s music scene and signals Spotify’s ongoing commitment to supporting artistic talent across the region”, the report added.
The report stated that increased global recognition, prominent playlist placements, and substantial growth in music exports fueled financial success.
It also underscores Nigeria’s rising influence as a global music powerhouse and reaffirms Spotify’s dedication to supporting its artists.
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Empowerment
Jocelyne Muhutu-Remy, Spotify’s Managing Director for Sub-Saharan Africa, emphasised that the financial milestone highlighted the global commercial expansion of Nigerian music.
He said, “We remain committed to empowering Nigerian artists to earn from their art whilst maintaining transparency with artists and stakeholders.
“The incredible growth of Nigerian music, both locally and globally, is a testament to the talent and creativity within Nigeria, and we are proud to support its continued rise.”
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