Spotify says it paid $10 billion in royalties in 2024

Spotify paid a record $10 billion in music royalties in 2024

Robert Besser
16 Mar 2025, 15:06 GMT+10

Spotify says it paid $10 billion in royalties in 2024

Spotify set a new milestone in 2024, paying out US$10 billion in royalties—the highest annual payout to the music industry in its history, the company announced this week
The Swedish streaming giant revealed that nearly 1,500 artists earned more than $1 million each from royalties last year, reflecting the platform’s continued role in shaping the digital music economy
Spotify also highlighted that its yearly payout to the industry has grown tenfold over the past decade, rising from $1 billion in 2014

STOCKHOLM, Sweden: Spotify set a new milestone in 2024, paying out US$10 billion in royalties—the highest annual payout to the music industry in its history, the company announced this week.

The Swedish streaming giant revealed that nearly 1,500 artists earned more than $1 million each from royalties last year, reflecting the platform's continued role in shaping the digital music economy.

Spotify also highlighted that its yearly payout to the industry has grown tenfold over the past decade, rising from $1 billion in 2014.

Despite the record payments, Spotify has faced criticism over its compensation model for artists and songwriters. In 2023, the company was hit with a lawsuit in the U.S. alleging underpayment of royalties for tens of millions of songs. However, a federal judge in New York dismissed the case earlier this year.

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