Nigerian Artists strike gold with N11 Billion Spotify revenue

A tremendous wave of success has rocked the Nigerian music scene as Spotify, the titanic online streaming platform, unveils staggering numbers that will leave you speechless, as Nigerian artistes raked in a colossal N11 billion in the year 2022 alone.

In a momentous proclamation that reverberates through the industry, Ms. Jocelyne Muhutu-Remy, the enigmatic Managing Director for Sub Saharan Africa at Spotify, delivered this electrifying news. The statement, a testament to Nigerian musicians’ meteoric rise, was unveiled in the heart of Lagos.

The crescendo of this announcement is Spotify’s annual report, “Loud & Clear,” an audacious endeavor to peel back the curtain on the enigmatic world of music royalties. Muhutu-Remy declared that transparency is the new anthem, and artistes deserve nothing less than a crystal-clear understanding of the economics of their craft.

2022 stands as a year of unprecedented triumph for Nigerian musicians, a symphony of success that crescendos to N11 billion from Spotify alone. A meteoric 74 percent surge in revenue from the streaming giant paints a vivid picture of the industry’s flourishing landscape. But the numbers don’t stop there—nearly 25 percent more Nigerian artistes joined the elite club of those earning more than N5 million and N10 million in Spotify royalties.

Hold onto your seats, as the revelation continues to unfold. The Nigerian music industry’s revenues soared to dizzying heights, scaling a staggering 63 percent growth from 2021 to 2022. Yet, this revelation barely scratches the surface, for the numbers reflect only Spotify’s contributions, excluding other revenue streams like concerts, merchandise, and alternate streaming platforms.

Spotify’s commitment is unwavering—to empower African creators, ensuring they bask in the spotlight cast by the platform’s mammoth 550 million active users. From London to Paris, Abuja to Nairobi, and Amsterdam to Accra, the echoes of Afrobeats resonate far and wide, transcending borders and captivating hearts.

Jocelyne Muhutu-Remy is resolute in Spotify’s mission—to nurture artists’ talents, to transform passions into livelihoods. As she states, “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 surge of Afrobeats’ global influence stands as a narrative beyond compare, a symphony composed of international collaborations, the amplifying power of social media, the surge in music streaming, and the resounding impact of the African diaspora.

As a crescendo to this breathtaking performance, Spotify-commissioned research echoes the sentiment that international collaborations stand as the driving force behind Afrobeats’ colossal growth, with a resounding 28 percent of fans believing in the magic of unity across borders.