While the music sector begins to expand all over the world, music listening platforms continue to expand its market share. Spotify, which comes to mind when it comes to music, explained the amounts he paid for 2024 as he did every year. It seems that the amount paid per artist in 10 years has increased to 10 times. Here are the details.

Spotify paid $ 10 billion in 2024

Spotify, a popular music listening platform, announced in 2024 that it paid $ 10 billion to the music industry. In addition, in 2014, at least 10 thousand dollars per person decreased to 10 thousand artists in 2014, while this amount rose to 100 thousand dollars in 2024.

Of course, it is said that all of these money did not go to the artist, while these amounts are said to have their share in their partners such as publishers. However, when we look at the detailed casting, it is seen that 1250 artists earn more than $ 1 million and 60 artists earn more than 10 million dollars in 2024 from Spotify.

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Do you wonder how these payments are determined? According to the data of the music financing platform named Duetti, Spotify pays $ 3 per 1000 listening, while Youtube, Apple Music, and Amazon Music, these rates were determined as 4.8 dollars, $ 6.2, and $ 8.8, respectively.

One of the reasons why Spotify was so popular was the order in the application. In addition, the free plan with advertised plays an important role in the participation of users, which first 60 percent of the current premium subscribers used the advertising plan.

So what do you think about this? You can share your thoughts in comments.