Spotify Royalty Payout To Nigerian, South African Artists Boom In 2024
Spotify’s royalty payments to artists from Nigeria and South Africa – its two biggest African markets – increased to around $59 million last year. The audio streaming giant paid out some $10 billion in royalties worldwide in 2024 as performers rode a wave of growing interest in music from the continent. And while Africa represents only a small part of its offering, interest in African artists has ballooned, buoyed in part by internationally recognised acts like South African singer Tyla and Nigeria’s Burna Boy. Nigerian artists received over 58 billion Nigerian naira ($38 million) in royalties last year, more than double the 2023 figure. Royalties for South African performers reached 400 million rand ($21 million), up 54% year-on-year. Much of that came from outside their home markets. Nigerian artists have seen a 49% increase in export growth over the past three years, while South Africa saw export growth of 104%. Around 250 million user-created playlists now feature at least one Nigerian artist, and 220 million contain a South African, the Swedish company said on Thursday. “What we’re seeing is an excellent evolution around more and more mid-tier or up-and-coming artists making a living,” said Jocelyne Muhutu-Remy, Spotify’s managing director for Sub-Saharan Africa. The number of Nigerian artists earning N10m, meanwhile, doubled year-on-year and has tripled since 2022. In South Africa, the number of those earning between 100,000 and 500,000 rand has doubled over the past three years.
Admin | 2025-04-08 13:55:24