Spotify has said that Nigerian artistes earned ₦25 billion from its streaming platform surpassing the previous year’s revenue as the local music industry continues to rise on the internet.
In a groundbreaking revelation for Nigeria’s music industry, Spotify’s latest report reveals the growing achievements of Nigerian artistes in 2023, as they expanded their reach and talents across the world.
According to Spotify, royalties paid to Nigerian musicians surpassed ₦25 billion, in what the streaming giant said has marked a significant leap from the previous year’s earnings.
The streaming giant’s data provide insights into the exponential growth of Nigerian music on digital platforms, with royalties more than doubling compared to 2022 when Nigerian artists generated over ₦11 billion in revenue from Spotify alone.
This remarkable surge, according to Spotify, highlights the increasing global recognition and influence of Nigerian artists, who continue to captivate audiences worldwide with their diverse sounds and talents.
Moreover, Spotify reveals that Nigerian musicians experienced an unprecedented level of exposure on its streaming platform in 2023. First-time listeners discovered Nigerian artists nearly 950 million times throughout the year, highlighting the widespread appeal and curiosity surrounding Nigeria’s vibrant music industry.
Spotify’s report reflects a broader trend of African music gaining traction on digital streaming platforms, with Nigerian artists leading the charge.
As the music industry evolves, platforms like Spotify provide unprecedented opportunities for artists to reach global audiences and monetize their work effectively, the streamer said.
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