Some interesting Spotify stats from 2024
Industry watchers are still going through Spotify’s annual Loud & Clear report which looks into the economics of, well, being Spotify. Here are some notable statistics.
- 12 million artists uploaded at least one song to Spotify in 2024. That’s up from 10 million in 2023. So is there too much music? What do you think?
- 1,450 artists earned US$1 million or more in royalties. That’s up from 1,250 in 2023. (0.012% of the total number of artists on the platform)
- 80% of the artists who made over US$1 million didn’t have a song in Spotify’s Global Daily Top 50 chart. Yes, that means heritage acts and older songs are being streamed a lot, but Spotify points out that the majority of these artists launched their music careers after 2010.
- 12,500 artists earned US$100,000 or more. (They account for 0.1% of artists on the platform.)
- 71,200 artists earned at least US$10,000. (Only 0.6% of those who uploaded songs to Spotify earned this much.)
Music Business Worldwide puts things this way:
“There are an estimated 240 million registered soccer players worldwide. According to FIFA’s 2023 Professional Football Report, there were ‘128,694 professional male footballers at 3,986 clubs in 135 countries around the world.’
“In other words, one of those professional soccer players had a 0.053% chance of becoming a ‘professional’ – i.e paid (something) to play soccer.
“As you can see, that’s a fraction of the chance (0.59%) that an artist has of generating $10,000 or more per year on Spotify today.”
