Spotify revealed that it paid a record $10 billion to the music industry in 2024, marking a total contribution of nearly $60 billion since its inception in 2006.
The company made the announcement in a blog post last Tuesday (28), highlighting Spotify‘s ongoing role in reshaping the music landscape.
The music streaming app also revealed an interesting figure. According to them, more than 10,000 artists are earning over $100,000 annually on Spotify.
This is a significant increase compared to 2014, when only 10,000 artists earned at least $10,000 a year on the platform.
“It’s because the system we’ve built together is working, and where we are now is just the beginning,” explained David Kaefer, Spotify’s Vice President of Music Business, about the company’s growth.
“Today, there are over 500 million paying listeners across all music streaming services,” he said, adding that the company’s goal is to have “a world with 1 billion paying listeners” on the platform.
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