On this picture representation, the Spotify song app is observable on a telephone on June 04, 2024 in Brandnew York Town.
Michael M. Santiago | Getty Pictures
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.
