Revealed: Nigerian Artists Received ₦11 Billion In Payouts From Spotify In 2022 Cash Out

The growing global interest in Afrobeats has illuminated the genre’s landscape. This has led to the birth of numerous breakout musicians who have since gone on to achieve success and establish themselves as industry pillars. These breakout musicians have not only gained popularity within their own countries but have also garnered international recognition. Their unique blend of African rhythms and contemporary sounds has captivated audiences worldwide, making Afrobeats a global phenomenon.

Additionally, some artists have noticed an upsurge in streaming their works, with some even being linked to streaming farms. Whatever the case, there is more interest in Afrobeat stars, which has led to higher profits.

With this knowledge, it has been found that in 2022, Nigerian artists earned over N11 billion through Spotify. In a statement to the media on Thursday, the company said that revenue in the Nigerian music industry increased by 63% between 2021 and 2022, and their income from Spotify alone increased by 74%. This revenue growth can be attributed to the increasing popularity of Nigerian music globally and the growing number of Nigerian artists joining the platform. As streaming media continue to gain traction, it is expected that this upward trend in revenue will continue in the coming years.

The company 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 consider revenues from other services, recorded revenue streams, concert tickets, or merchandise.

Jocelyne Muhutu-Remy, Spotify’s managing director for Sub-Saharan Africa, said in a statement:

“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.”

“Some of the top cities, outside of Lagos, where Afrobeats is getting the most streams are London, Paris, Abuja, Nairobi, Amsterdam, and Accra.”

 

The company emphasized the popularity of Afrobeats and pointed out that this international expansion impacted more than just music, serving as a means of distributing food, dance, and even languages.