Nigerian Artists Hit New High with Over N25 Billion in Spotify Royalties for 2023

Nigerian Music Industry Soars to New Heights on Spotify

Spotify’s latest report reveals a remarkable quadrupling of Nigerian artists earning over 10 million NGN in royalties since 2018. This surge is mirrored in the Sub-Saharan Africa market, which boasts a staggering 24.7% growth increase, making it the world’s fastest-growing music revenue market.

Afrobeats Journey of a Billion Streams

Streaming Revolutionizes Nigerian Music Scene

With a vast population of 230 million and a thriving music industry, Nigeria is making waves globally. Afrobeats, in particular, is gaining international recognition, with artists like Rema breaking records on Spotify. Streaming platforms like Spotify have democratized the music industry, enabling artists to reach new audiences and earn significant royalties.

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Spotify’s Loud & Clear Report Unveils Impressive Numbers

Spotify’s annual report sheds light on the platform’s royalty payments and streaming economy. Key figures include:

1. 25 billion NGN in streaming royalties for Nigerian artists on Spotify in 2023, a 2,500% increase since 2017
2. Quadrupling of Nigerian artists earning over 10 million NGN in royalties since 2018
3. Over half of royalties going to independent artists or labels
4. 950 million discoveries of Nigerian artists on Spotify in 2023
5. 80% of tracks on Nigeria’s daily top 50 chart owned by Nigerian artists
6. 1,400 Nigerian artists added to Spotify editorial playlists in 2023

Spotify Commits to Supporting African Creators

Jocelyne Muhutu-Remy, Spotify’s Managing Director for Sub-Saharan Africa, emphasizes the platform’s commitment to supporting African creators and fueling the Nigerian music revolution. With continued investment in African artists, Spotify is poised to further amplify Nigerian voices and propel the music industry forward.

Afrobeats Takes Center Stage

Rema’s ‘Calm Down’ feat Selena Gomez became the first Afrobeats song to hit 1 billion Spotify streams, marking a high point in the continuous rise of Nigerian music exportation. As Afrobeats continues to gain global recognition, Nigerian artists are leading the charge, and Spotify is proud to be a part of their journey.

Rema’s Hit Single Calm Down joins the Billions Club on Spotify – GBAfrica