Spotify reports N11 Billion earnings for Nigerian artists in 2022

The online music streaming platform, Spotify, has disclosed that Nigerian musicians earned over N11 billion through its services in the year 2022. Jocelyne Muhutu-Remy, the Managing Director responsible for sub-Saharan Africa at the online platform, made this announcement in Lagos yesterday. She emphasized the importance of providing clear insights into the financial aspects of music streaming for artists.

Muhutu-Remy stated that during the course of 2022, Nigerian artists saw a substantial increase in revenue from Spotify, surpassing N11 billion. Furthermore, the overall revenue of Nigeria’s music industry experienced a remarkable growth of 63% from 2021 to 2022. Specifically, the earnings of Nigerian musicians from Spotify alone exhibited a growth of 74% during the same time span.

The Managing Director highlighted that the count of Nigerian artists who earned royalties exceeding N5 million and N10 million solely from Spotify witnessed a rise of almost 25% in 2022. It is important to note that these statistics account only for the revenue generated via Spotify and do not encompass earnings from other platforms.

Muhutu-Remy affirmed Spotify’s dedication to enabling African creators to profit from their artistic endeavors. She outlined the platform’s commitment to connect these creators with its user base of 550 million active users, thus providing them with increased exposure and opportunities for earnings.

More Branches.

Internet Company Reaching Young & Smart Africans from Lagos, Nigeria.

Leave a Comment

Your email address will not be published.

Previous Story

ECOWAS Leaders Authorize Immediate Intervention in Niger Following Coup

Next Story

The Kenyan Parliament is Considering a Ban on Tiktok

Latest from Music & Playlists