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Nigerian artistes generated over N11 billion in revenue on Spotify in 2022- Report
Spotify has revealed that Nigerian artists earned 11 billion naira on its platform in 2022.
Spotify, the leading music streaming platform with over 500 million users across the world, estimated the total revenue generated by Nigerian artists on the platform in 2022 alone to be 11 billion naira, in the latest report on the growth of Afrobeats.
According to Punch, the business saw that in 2022, the number of Nigerian musicians who earned more than N5–10 million in royalties from Spotify alone increased by 25%.
The amount solely included revenue from Spotify; it did not take into account revenues from other services, recorded revenue streams, concert tickets, or merchandise.
Spotify’s Managing Director for Sub-Saharan Africa, Jocelyne Muhutu-Remy, was quoted to have 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 also unveiled a list of the ten most popular Afrobeats musicians, starting with Rema, the 23-year-old superstar whose worldwide hit “Calm Down” is the all-time best-selling African single. Burna Boy, a Grammy Award winner, comes after him.
See the full list below:
