On Wednesday, Spotify released Loud & Clear data that delves into the company’s royalty payment mechanism and analyzes the global streaming economy.
According to the report, while overall Australian music industry revenue has grown 14.2% since 2018 (according to IFPI), revenue generated by Australian artists (Spotify alone) has grown five times faster. and increased by 75% over the same period.
Spotify’s global reach spans over 515 million listeners in 184 markets, and in 2022 nearly 80% of Australian artist royalties were generated by fans outside Australia.
Overall, there were 10 main points.
• Record payouts to music rights holders approaching $40 billion
• Spotify returns nearly 70% of every dollar it makes from music to the industry
• The number of artists earning over $1 million and the number of artists earning over $10,000 more than doubled in the last five years.
• Over 10,000 artists in over 100 countries, earning over $100,000 in a single year for the first time ever
• The 50,000th highest earning artist made over $12,500 from Spotify alone, and probably made $50,000 from all recorded sources combined.
• The company paid out more than $3 billion to publishers in the last two years
• Spotify has approximately 200,000 professional or aspiring recording acts worldwide, and in 2022 they will generate 95% of total royalties.
• Over a quarter of all artists with revenue of $10,000 or more self-distribute to Spotify
• Nearly 35% of artists earning over $10,000 live outside the top 10 music markets.
• In 2022, nearly 3,000 catalog-frequent artists earned over $100,000 from Spotify alone
At the media briefing before the data release, Alice SburgneraSpotify’s head of music for Australia and New Zealand said: Our mission then and now is to give 1 million creative artists the opportunity to make a living from their art and billions of fans the opportunity to enjoy and be inspired by it. We are well on our way towards this goal and live this mission every day in our work at Spotify. “
On Wednesday, Spotify’s CEO and founder said, Daniel“In markets like Australia, music streaming revenue is exploding. More artists are breaking down geographic barriers to make their local fans proud while being discovered by new listeners around the world.” It is designed to be done.”
Related item: Spotify launches Make Waves program with three new podcasts in Australia
