Spotify, one of the global streaming platforms, recently revealed it paid over N25 billion to Nigerian singers as royalties in 2023
The streaming platform management revealed the payout was double what was recorded in 2023
Further reports revealed that Nigerian singers earning over N10m in royalties have quadrupled since 2018
Amid some Nigerian music stars distancing themselves from Afrobeats, the music genre has continued to grow in terms of fanbase and listeners.
A recent update shared by Spotify, one of the leading online music streaming platforms, revealed that Afrobeats remained king among Nigerian music listeners.
The streaming platform, in a statement via its Managing Director for Sub-Saharan Africa Jocelyne Muhutu-Remy on Friday, May 10, revealed it paid more than N25 billion to Nigerian artists as royalties in 2023.
According to Muhutu-Remy, this is double what was recorded in 2022, with a 2,500 per cent increase since 2017.
She further revealed that Nigerian singers earning over N10m in royalties have quadrupled since 2018.
While Afrobeats retained its spot as the most popular genre in Nigeria, Spotify revealed other homegrown genres like Highlife witnessed a significant increase in listenership in the last 12 months by 224 per cent, Igbo Pop by 303 per cent, and Fuji by 187 per cent.
The streaming platform revealed that Highlife, Fuji and Igbo Pop also saw listenership increase in Q1 2024, growing by 240 per cent, 175 per cent, and 270 per cent, respectively, compared to Q1 2023. Of the over N25 billion paid out in 2023, Spotify revealed over half of the royalties went to independent singers or labels, showcasing the democratising power of streaming.
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