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One of the main complaints about Spotify is that they don’t pay enough. This is a common criticism from musicians around the world, but it can be hard to match when you look at the numbers shared by streamers – the sheer numbers.
Published on Spotify website Loud & Clear– “We aim to share new data on Spotify royalty payments and increase transparency by analyzing the global streaming economy, players and processes” – How much is being paid and how much is actually being earned A number of figures have been reported regarding the number of artists who have reported substantial salaries from streamers, which is quite shocking and a sign that the music industry is growing.
Now, those numbers don’t mean the music industry is all haggard. In fact, while billions of dollars are being paid, there are still countless artists, even well-known artists, who for some reason are not getting royalties. Nonetheless, the reported numbers are eye-catching and show that at least this part of the business is expanding, with more money moving around.
The latest edition of the company’s loyalty report was published in conjunction with the much-hyped Stream On event. The show provided an opportunity for streamers to showcase new features and products they were working on, and provided an opportunity to update the world on just how big it has become.
Let’s take a look at some notable numbers from the latest loyalty report released by Spotify.
$40 billion
Spotify’s payments to music rights holders to date have reached nearly $40 billion. This is a truly staggering amount. There has been a trackable increase in his royalty payments streamed each year by the company, leading to record-breaking revenue and growth for different types of rights holders representing artists and songwriters. Record labels, independent distributors, publishers, performing rights groups, and collectors are among the rights owners beneficiaries of this upward trend.
70%
Spotify pays back almost 70% of every dollar made from music in royalties to rights holders representing artists and songwriters. These organizations include independent distributors, publishers, performance rights organizations, record labels, and collecting societies, which pay artists and songwriters on agreed terms. To generate huge revenues, Spotify derives its revenue from both premium subscription fees paid by his listeners and fees from advertisers who push commercials onto those using the free tier.
1,060
Recent figures released by the music streaming platform show a significant increase in the number of artists earning over $1 million a year from their services. In 2022, that total will be 1,060 acts, marking a significant increase from 2017 (the year noted by the platform), when only 460 artists were able to achieve the feat.
20%
In just a few years, Spotify has increased its share of global recorded music revenue from less than 15% in 2017 to over 20% in 2022 (using data provided by IFPI).
200,000
Spotify’s financial success relies heavily on a select group of artists. About 200,000 of these musicians are made up of both professionals and those aspiring to make a living through music. They have a huge impact on streaming platforms and generate his 95% of the total royalty pool. The company cites figures that many outlets have her 9 million musical acts upload at least one song of his to the platform, but it’s her 200,000 songs that streamers are really focusing on. points out that
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