Over N11 billion was earned by Nigerian artists on Spotify in 2022.
The company said in a statement on Thursday that revenue in the Nigerian music industry increased by 63% between 2021 and 2022, and that their revenue from Spotify alone increased by 74% during this same time.
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Spotify also reported that in 2022, the number of Nigerian artists who earned between N5 million and N10 million in royalties from Spotify alone increased by 25%.
It stated that the amount only included revenue from Spotify and did not take into account revenues from other services, recorded revenue streams, concert tickets, or merchandise.
In a statement, Spotify’s Managing Director for Sub-Saharan Africa, Jocelyne Muhutu-Remy, said, “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.”
The firm highlighted the rise in Afrobeats and noted that this cross-border growth has not only impacted music but has been a vehicle for food, dance, and language export.
It added, “Some of the top cities, outside of Lagos, where Afrobeats is getting the most streams are London, Paris, Abuja, Nairobi, Amsterdam, and Accra.”
