Nigerian Musicians Pocket Over N11bn from Spotify in 2022

By Aduragbemi Omiyale

Over N11 billion was earned by Nigerian musicians from Spotify, a popular audio streaming platform, in 2022, 74 per cent higher than what was generated in 2021, according to a statement from the organisation on Thursday.

Business Post gathered that Spotify provided an avenue for Nigerian artists to expose their songs to about 550 million active users on the platform, resulting in new audiences and more streams for them.

The company launched its annual report, Loud & Clear, sharing data on its royalty payments and breaking down the global streaming economy, the players and the process to increase transparency in the music industry.

It was learned that the music acts have been able to earn more from the songs because of the renewed global interest in Afrobeats.

This has been influenced by international collaborations, the power of social media, the rise in music streaming and the African diaspora.

According to Spotify-commissioned research conducted by Kuvora, 28 per cent of fans believe that international collaborations are one of the key factors driving the growth of Afrobeats.

This has resulted in more earnings for the artists, and according to Spotify, the number of Nigerian artists who generated more than N5 million and N10 million in royalties from its platform alone has increased by nearly 25 per cent over the last year.

“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 Managing Director for Sub-Saharan Africa at Spotify, Ms Jocelyne Muhutu-Remy, commented.