Overview

• 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.