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What Nigerian music artists make on Spotify ?

What Nigerian music artists make on Spotify ?

What Nigerian music artists make on Spotify ? – Afrobeats surge in popularity can be linked to several factors including international collaborations, the power of social media, the rise in music streaming and the African diaspora. According to Spotify-commissioned research conducted by Kuvora, 28% of fans believe that international collaborations is one of the key factors driving the growth of Afrobeats.

There is a certain level of democratization that has occurred in the music industry, thanks to music streaming. Spotify’s commitment is to ensure that African creators earn from their art, by exposing them to 550 million active users on the platform, resulting in new audiences and more streams for the artists.

The number of Nigerian artists who generated more than 5M NGN and 10M NGN in royalties from Spotify alone has increased by nearly 25% over the last year. This figure represents revenue generated from Spotify alone, and does not take into account earnings from other services and recorded revenue streams, concert tickets or merch..

“Our commitment at Spotify is to ensure that professional musicians make a living from their work. Releasing the revenues generated by Nigerian artists in 2022 on our platform is our way of keeping ourselves accountable, and keeping true to our mission to enable artists to live off their art” says Jocelyne Muhutu-Remy, Spotify’s Managing Director for Sub Saharan Africa.

In 2022, revenues generated by Nigerian artists from Spotify alone reached over 11,000,000,000 NGN. While Nigerian music industry revenues overall have grown 63% from 2021 to 2022 (according to IFPI), revenues generated by Nigerian artists – from Spotify alone – grew 74% over this same time period.

Budicious

Full Stack Developer, Backend And Frontend. And Also Final Year Computer Science Student at Abubakar Tatari Ali Polytechnic Bauchi.

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