Spotify’s Royalty Payments to African Artists Surge to $59m in 2024
Audio streaming giant Spotify has reported a significant increase in royalty payments to artists from Nigeria and South Africa, its two largest African markets. In 2024, the Swedish company paid out around $59 million to artists from these countries, reflecting a growing interest in African music worldwide.
Last year, Spotify distributed over $10 billion in royalties globally, with a portion of these payments going to African artists. While Africa represents a small portion of Spotify’s overall revenue, the continent’s music scene has been gaining traction, thanks to the success of artists like South Africa’s Tyla and Nigeria’s Burna Boy.
According to Spotify, approximately 250 million user-created playlists now feature at least one Nigerian artist, while 220 million playlists include a South African artist. This surge in interest has led to a rise in royalty payments for artists from these countries.
Jocelyne Muhutu-Remy, Spotify’s managing director for sub-Saharan Africa, commented on the trend, noting that more mid-tier and emerging artists are now able to make a living from their music.
Last year, Nigerian artists received over $38 million in royalties, more than double the amount from 2023. Similarly, South African performers saw their royalties reach $21 million, marking a 54% increase year-on-year.
Notably, a significant portion of these earnings came from international markets. Nigerian artists experienced a 49% increase in export growth over the past three years, while South Africa saw a 104% growth in exports.
The report also highlights the financial success of Nigerian and South African artists. The number of Nigerian artists earning ₦10 million doubled in the past year and has tripled since 2022. In South Africa, the number of artists earning between R100,000 and R500,000 has doubled over the last three years.
Overall, Spotify’s increased royalty payments to African artists reflect a growing global interest in African music and the success of artists from Nigeria and South Africa on the international stage.
Source: Reuters/Dylan Martinez
