Spotify paid $9 billion in royalties in 2023. Here's what fueled the growth
Every year since 2021, Spotify has published its “Loud & Clear” report, an attempt to be more transparent about its payments
LOS ANGELES (AP) — Spotify paid out $9 billion in streaming royalties last year, the streaming giant said Tuesday in its latest “Loud and Clear” report.
Spotify's fourth annual report, which originally launched in 2021 following criticism over its lack of transparency, noted record accomplishments, including the highest annual payment from any retailer to the music industry.
“This is everything we know about how much is being paid out, how many artists are achieving different levels of success,” says Charlie Hellman, the vice president and global head of music product at Spotify. “So, everyone can have access to the information and be sort of up to date with the state of the industry.”
According to the data, 1,250 artists generated over $1 million each in recording and publishing royalties in 2023; 11,600 generated over $100,000 and 66,000 generated over $10,000 — numbers that have almost tripled since 2017.
