.png)
.png)
1 week ago
10
- In the twelvemonth 2024, Nigerian musicians person earned astir ₦58 cardinal successful royalties from Spotify alone
- The awesome maturation successful fig is 5 times higher than 2022 and much than treble that of 2023
- The improvement demonstrates however the Nigerian euphony manufacture is increasing rapidly connected a planetary basis
Legit.ng writer Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.
Nigerian music has achieved a important fiscal milestone arsenic royalties earned by artists connected Spotify unsocial surpasses N58 cardinal successful 2024.
Source: UGC
This staggering fig is much than treble that of 2023 and 5 times greater than 2022 successful what captures the awesome maturation of Nigerian music.
Spotify's 2024 Loud & Clear report, which stated that the level paid retired 10 cardinal USD successful royalties successful 2024—a phenomenal 100% maturation from its payout 10 years prior—is headlined by this astounding figure.
The survey besides shows that the fig of Nigerian musicians earning N10 million successful Spotify royalties has much than doubled since 2023 and much than tripled erstwhile compared to 2022 numbers, highlighting the rapidly expanding Nigerian euphony manufacture connected a worldwide scale.
"We stay committed to empowering Nigerian artists to gain from their creation whilst maintaining transparency with artists and stakeholders," says Jocelyne Muhutu-Remy, Spotify's Sub-Saharan Africa Managing Director."The unthinkable maturation of Nigerian music, some locally and globally, is simply a testament to the endowment and creativity wrong Nigeria, and we are arrogant to enactment its continued rise."2024 fiscal highlights
Spotify editorial playlists present diagnostic implicit 1,900 Nigerian artists, a 33% summation implicit 2023. In 2024, caller Spotify users discovered Nigerian musicians much than 1 cardinal times.
Listeners extracurricular of Nigeria accounted for a ample magnitude of the N58 cardinal successful royalties that Nigerian musicians received.
The globalization of Nigerian euphony is reflected successful the information that a sizable magnitude of the streaming income earned by Nigerian musicians comes from listeners extracurricular the nation.
It besides serves arsenic a reminder that Nigeria indispensable amended its net infrastructure and fortify its economy successful bid to boost streaming capableness successful the nation.
The survey besides emphasizes the wider taste power of Nigerian music, pointing retired that listeners astir the satellite watercourse Nigerian artists for an mean of implicit 1.1 cardinal hours, and that users person made astir 250 cardinal playlists with Nigerian artists, whose exports person accrued by 49% successful the past 3 years.
Source: Getty Images
Local depletion of Nigerian contented has besides accrued by 206% annually, with a notable 782% summation successful the past 3 years.
Meanwhile, Spotify precocious announced a important summation successful its monthly subscription fees for premium subscribers, raising the outgo from N900 to N1,300, effectual November 2024.
In an email to its users, the euphony streaming elephantine explained that the adjustments are indispensable to enactment ongoing innovations successful its merchandise offerings and heighten idiosyncratic experience.
Top Nigerian earners connected YouTube, TikTok, Spotify, others successful 2025
Legit.ng reported that Nigerians are expanding their earnings from contented platforms specified arsenic TikTok, YouTube, X, Spotify and different platforms arsenic contented instauration blossoms successful Nigeria.
Nigerian artists earned astir N50 cardinal successful royalties from Spotify successful 2024. The fig is much than treble the magnitude paid by the music-streaming level the erstwhile twelvemonth and 5 times greater successful 2022.
Spotify Africa’s managing director, Jocely Muhutu, disclosed that the payments amusement the rising planetary request for Nigerian euphony and the platform’s committedness to supporting artists.
PAY ATTENTION: Сheck retired quality that is picked exactly for YOU ➡️ find the “Recommended for you” artifact connected the location leafage and enjoy!
Source: Legit.ng
