Nigerian artistes recorded over N11 billion in revenue on Spotify in 2022.
The firm, on Thursday, in a statement released to our correspondent, stated that revenues in the Nigerian music industry grew 63 per cent from 2021 to 2022 and their revenue from Spotify alone grew 74 per cent over this same period.
The firm noted that the number of Nigerian artistes who generated more than N5m and N10m in royalties from Spotify alone grew by 25 per cent in 2022.
It said the figure represented revenue generated from Spotify alone and did not consider earnings from other services and recorded revenue streams, concert tickets, or merch.
In a statement, Spotify’s Managing Director for Sub-Saharan Africa, Jocelyne Muhutu-Remy, said, “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.”
The firm highlighted the rise in Afrobeats and noted that this cross-border growth has not only impacted music but has been a vehicle for food, dance, and language export.
It added, “Some of the top cities, outside of Lagos, where Afrobeats is getting the most streams are London, Paris, Abuja, Nairobi, Amsterdam, and Accra.” (Punch)