Spotify's Royalties Reach $9 Billion in 2023, Doubling Support for Indie Artists

The streaming giant's payouts have nearly tripled over the past six years, with independent artists and labels generating nearly half of the total.

Spotify paid out $9 billion in royalties in 2023, marking a record year for the music industry.
Independent artists and labels accounted for nearly $4.5 billion of the total payouts, a significant increase from previous years.
More than half of the artists receiving royalties are from non-English speaking countries, highlighting the global reach of streaming.
Spotify's 'Loud & Clear' report aims to provide transparency on royalty payments, with 1,250 artists earning over $1 million each.
The streaming platform has faced criticism for its payment model, prompting efforts to increase transparency and fairness.