Spotify Paid Out $10 Billion to the Music Industry in 2024: A Streaming Success Story?
2025-02-04
Spotify announced it paid a record $10 billion to the music industry in 2024, a billion more than the previous year. This brings its total payouts to roughly $60 billion since its founding in 2006. While artist compensation from streaming remains a contentious issue, Spotify highlights its contribution to the industry's revival after a period of decline due to illegal downloading. The company attributes its success to high user retention, a freemium model, and global expansion, claiming to be both the most popular and highest-paying subscription streaming service. Further details on royalty distributions will be released in their annual Loud & Clear report.