Spotify Paid Over $10 Billion In Music Royalties In 2024

Spotify has released its annual Loud & Clear report, offering a deep dive into how the streaming economy continues to bolster artists and fuel the music industry's rapid expansion. The report sheds light on how artists earn through streaming, the distribution of royalties, and the evolving global music landscape. In India, this trajectory of growth has been especially remarkable, as local artists are increasingly gaining recognition both at home and abroad.

Since its launch in India six years ago, Spotify has steadily strengthened its contribution to the local music industry. In 2024 alone, Indian artists were discovered over 11.2 billion times by first-time listeners on the platform—a 13% increase from 2023. By leveraging artist education initiatives, emerging artist programs, and immersive on-ground experiences, Spotify has facilitated deeper connections between artists and their fans. The Loud & Clear report highlights key insights that showcase the growing success of Indian artists within the streaming ecosystem.

Strengthening the Artist Economy in India

The financial impact of streaming on Indian artists has grown exponentially. Since 2022, the number of Indian artists earning over ?50 lakh annually from Spotify alone has more than doubled. Simultaneously, artists generating over ?1 crore in royalties have tripled, while those surpassing ?5 crore in earnings have doubled. Notably, approximately two-thirds of the total royalties generated in India in 2024 came from Indian artists, reaffirming their dominant presence in the country’s music landscape.

A Surge in Global Recognition for Indian Music

Indian music’s influence is expanding beyond borders. Over 90% of tracks on Spotify India’s daily Top 50 playlist in 2024 were by local artists, reflecting a 6% increase from 2023. Moreover, nearly 50% of all royalties earned by Indian artists came from international listeners, up from 40% the previous year. Countries such as the USA, UK, UAE, Pakistan, Canada, Malaysia, and Sri Lanka emerged as key markets streaming Indian language music. Additionally, over 9,000 Indian artists were featured on global and local editorial playlists in 2024, up from 8,700 in 2023.

The Rise of Regional and Independent Music

Indian music’s diversity continues to be a driving force in its global appeal. Royalties generated by artists performing in Hindi, Punjabi, Tamil, and Telugu have each more than doubled since 2021. Notably, Telugu music was one of the fastest-growing segments in 2024, with a 39% year-on-year increase in royalties. Among the most-streamed genres were Hindi pop, Hindi hip-hop, Punjabi hip-hop, Hindi indie, Malayalam hip-hop, Punjabi pop, and Tamil pop.

Several leading artists have played a key role in expanding the reach of Indian music worldwide. The 2024 Loud & Clear report spotlights icons such as Arijit Singh, Pritam, Anirudh Ravichander, Karan Aujla, Shreya Ghoshal, Diljit Dosanjh, Hanumankind, Kalmi, A.R. Rahman, Sidhu Moose Wala, Amitabh Bhattacharya, Vishal-Shekhar, AP Dhillon, Badshah, and Alka Yagnik. Importantly, over 65% of the top 30 most exported songs from India originated outside of the film industry, signaling the growing influence of independent music on a global scale.

Spotify’s Impact on the Global Music Industry

On a broader scale, Spotify remains a leader in supporting artists financially. In 2024, the company distributed over $10 billion in music royalties, marking a tenfold increase in payouts over the past decade. Since its inception, Spotify has now paid out approximately $60 billion to artists, solidifying its role in shaping the modern music economy.

Looking ahead, the future of music will be driven by fans, whose passion and engagement will continue to fuel new opportunities for innovation, collaboration, and creative expression. With global access to diverse sounds and cultures stronger than ever, artists will keep pushing boundaries, and listeners will play a pivotal role in shaping the next era of music. The industry is not just growing—it is evolving into a thriving ecosystem where creators and audiences coexist in an interconnected musical landscape.