Spotify paid $10B in music royalties in 2024

Spotify’s “Loud & Clear” report, released Wednesday, revealed that the company paid $10 billion in royalties in 2024, which it claims is the largest yearly payout in the music industry.

Nearly 1,500 artists earned over $1 million last year.

The Swedish company says its annual payout has increased tenfold since 2014. However, experts note that many artists still struggle to earn fair wages despite the platform’s growth.

How does the money flow?
Spotify doesn’t pay artists directly. Instead, earnings go through labels, rights holders, and publishers, leaving musicians with only 10–20% of their royalties. 

Songwriters face even steeper cuts as payments are divided among multiple parties.