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HomeMetro NewsNigerian musicians net N11 bln revenue from Spotify in 2022

Nigerian musicians net N11 bln revenue from Spotify in 2022

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By Taiye Olayemi

Spotify, an online streaming platform, has revealed that Nigerian artists made over N11 billion from the streaming platform in 2022.

Spotify’s Managing Director for Sub-Saharan Africa, Jocelyne Muhutu-Remy made this known in a statement on Thursday in Lagos.

Muhutu-Remy said that Spotify launched its annual report, Loud & Clear, to increase transparency in the music industry by sharing data on Spotify’s royalty payments.

According to her, artists deserve clarity about the economics of music streaming.

“In 2022, revenues generated by Nigerian artists from Spotify alone reached over N11 billion, while Nigerian music industry revenues overall have grown by 63 percent from 2021 to 2022.

“Revenues generated by Nigerian artists from Spotify alone grew 74 percent over this same period.

“The number of Nigerian artists who generated more than N5 million and N10 million in royalties from Spotify alone has increased by nearly 25 percent over 2022.

“This figure represents revenue generated from Spotify alone and does not take into account earnings from other services and recorded revenue streams, such as concert tickets or merchandise,” she said.

Muhutu-Remy said that Spotify is committed to ensuring African creators earn from their art by exposing them to the 550 million active users on the platform.

She said in addition to the data on the revenues generated by Nigerian artistes, there was also new data on the top-exported Afrobeats albums, top-exported Afrobeats artistes, top-exported Afrobeats tracks, and top-exported female Afrobeats tracks.

The managing director said some of the top cities outside of Lagos where Afrobeats is getting the most streams are London, Paris, Abuja, Nairobi, Amsterdam, and Accra.

“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,” she said.

Muhutu-Remy explained that Afrobeats’ surge in popularity could be linked to several factors, including 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 percent of fans believe that international collaborations are one of the key factors driving the growth of Afrobeats. (NAN)

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