Spotify, the leading digital music, podcast, and video streaming service, has revealed the royalties earned by Nigerian artistes on its platform in 2024, highlighting the growing success of Nigerian music.
The data was unveiled during Spotify’s 2024 Loud & Clear event, held on Thursday in Lagos.
According to Spotify, Nigerian artistes earned over N58 billion in royalties in 2024—more than double the amount earned in 2023 and five times higher than in 2022. The platform also noted a significant rise in the number of artistes earning at least N10 million in royalties, with this figure doubling compared to 2023 and tripling from 2022.
Spotify also highlighted that first-time listeners discovered Nigerian artistes over one billion times on the platform. Additionally, more than 1,900 Nigerian artistes were featured on Spotify’s editorial playlists, marking a 33 percent increase from 2023.
A significant portion of the N58 billion in royalties came from listeners outside Nigeria. Spotify emphasized the global cultural impact of Nigerian music, with international listeners spending over 1.1 million hours streaming Nigerian artistes’ songs. The platform also reported that users created around 250 million playlists featuring Nigerian artistes worldwide.
“Nigerian artistes have experienced a 49 percent export growth over the past three years. Local consumption of Nigerian content has grown by 206 percent year-over-year, with an impressive 782 percent increase over the past three years,” the report stated.
Spotify credited this financial success to increased global recognition, prominent playlist placements, and a substantial growth in music exports, further cementing Nigeria’s position as a global music powerhouse.
Jocelyne Muhutu-Remy, Spotify’s Managing Director for Sub-Saharan Africa, emphasized the significance of this milestone. “We remain committed to empowering Nigerian artists to earn from their art while maintaining transparency with artists and stakeholders,” she said. “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.”
