Spotify paid out $10 billion to the music industry for 2024 | Infinium-tech
Spotify has reported that it paid $ 10 billion to the music industry in 2024 – a new record. It should be noted that this money did not go to all artists, various partners like publishers are also in the mixture.
Streaming service says that more than 10,000 artists currently make more than $ 100,000 per year on Spotify. You can see more detailed breakdowns HereSome are making big money – 1,250 artists made more than $ 1 million and 60 more than $ 10 million in a year, which was just from Spotify.
For reference to how things have changed, in 2014 there were statistical artists about 10,000 artists who were making at least $ 10,000 per year from Spotify alone. To date, Spotify has paid around $ 60 billion to the music industry.
Pays $ 3.0 per 1,000 sections based on data from Spotify Duetti (a music financing platform), while Youtube, Apple Music and Amazon Music $ 4.8, $ 6.2 and $ 8.8 per 1,000 sections (numbers for 2024) We do.
Spotify refers to retention as one of the major reasons for its success – things like curated playlists and AI DJ feature are returning to the audience. Advertising-supported free tier is also important as it helps onboard users -60% premium customers started at advertising tier. Launching in many markets and fixing prices for those markets has been postponed as another reason for success.
Right now, there are more than 500 million payment customers for various music streaming services. Spotify has 252 million customers either. However, the company feels that reaching 1 billion paid customers in all services is notable in the near future.
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