As the music industry begins to expand all over the world, music listening platforms continue to grow their market share. Spotify, which comes to mind when it comes to music, announced the amounts it paid for 2024 as it does every year. It seems that the amount paid per artist has increased 10 times in 10 years. Here are the details.
Spotify paid $ 10 billion in 2024
Popular music listening platform Spotify announced that it paid $ 2024 billion to the music industry in 10. In addition, while an estimated 10 thousand artists were paid at least 10 thousand dollars per person in 2014, this amount increased to 100 thousand dollars in 2024.
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Of course, it is stated that not all of this money goes to the artist, while it is said that partners such as publishers have a share in these amounts. But when we look at the detailed breakdown, it is seen that 1250 artists earned more than $ 1 million and 60 artists earned more than $ 10 million from Spotify in 2024.
So are you wondering how these payments are determined? According to the data of the music financing platform called Duetti, Spotify pays $ 3 per 1000 listens, while on YouTube, Apple Music, and Amazon Music, these rates were determined as $ 4.8, $ 6.2, and $ 8.8 per 1000 listens, respectively.
One of the reasons why Spotify is so popular is claimed to be the order within the application. In addition, the free plan with advertising plays an important role in users joining, with 60 per cent of current premium subscribers using the advertised plan first.
So what do you think about this issue? You can share your thoughts in the comments.