Spotify says it paid just about 1,500 artists $1 million or extra in royalties for 2024 streams

Spotify is minting song millionaires.

Just about 1,500 artists generated over $1 million in royalties from Spotify in 2024, the corporate mentioned Wednesday in its annual Loud and Clear Report.

Spotify mentioned greater than 80% of the artists in that puddle didn’t have a music achieve the app’s World Day by day Supremacy 50 chart.

“Spotify has helped level the playing field for artists at every stage of their careers,” learn a portion of the file. “Success in the streaming era doesn’t require a decade-spanning catalog nor a chart-topping hit.”

The inside track comes a couple of week upcoming the corporate reported a fourth-quarter income beat that noticed the Swedish song streamer file its first complete future of profitability. The corporate mentioned it paid an all-time prime of $10 billion in royalties to the song trade for the future.