Spotify Reports Record $10 Billion Payout to Music Industry in 2024

The streaming giant highlights its total contributions of nearly $60 billion while addressing ongoing criticism over artist compensation.

Spotify announced a record $10 billion payout to the music industry in 2024, bringing its total contributions since its founding to nearly $60 billion.
The company estimates that over 10,000 artists now earn more than $100,000 annually from Spotify, compared to 10,000 artists earning at least $10,000 annually in 2014.
Spotify aims to double the global number of paying music streaming subscribers from 500 million to 1 billion, emphasizing retention, converting free-tier users, and expanding in emerging markets.
Criticism persists over Spotify's payment structure, with smaller artists and songwriters voicing concerns about low per-stream payouts and bundled royalty systems.
The platform defends its approach by citing its role in revitalizing the music industry post-piracy and enabling broader access for independent artists through streaming.