An online streaming platform, Spotify, has revealed that Nigerian artistes made over N11 billion from the streaming platform in 2022.
Managing Director of the online platform for sub-Saharan Africa, Jocelyne Muhutu-Remy, disclosed this in Lagos recently.
According to her, artistes deserve clarity about the economics of music streaming.
“In 2022, revenues generated by Nigerian artistes from Spotify alone reached over N11 billion, while Nigerian music industry revenues overall have grown by 63 per cent from 2021 to 2022.
“Revenues generated by Nigerian artistes from Spotify alone grew 74 per cent over the same period.
“The number of Nigerian artistes that generated more than N5 million and N10 million in royalties from Spotify alone has increased by nearly 25 per cent in 2022,
“This figure represents revenue generated from Spotify alone, and does not take into account earnings from other services,” she said.
Muhutu-Remy said Spotify would be committed to ensuring African creators earn from their art, by exposing them to 550 million active users on the platform.
