Nigerian Music Hits ₦58 Billion in Spotify Royalties in 2024

In a groundbreaking achievement for Nigerian music, royalties generated by Nigerian artists on Spotify alone have surged past a staggering ₦58 billion in 2024. This impressive milestone more than doubles the amount earned in 2023 and is five times greater than in 2022, highlighting the rapid global growth and commercial success of Nigerian music.

This monumental figure was unveiled in Spotify’s 2024 Loud & Clear report, which also revealed that the streaming giant paid out a total of 10 billion USD in royalties across all genres, reflecting a remarkable 100% increase in payouts over the past decade.

Explosive Growth in Nigerian Music Royalties

The report highlights the phenomenal rise of Nigerian music, with the number of Nigerian artists earning over ₦10 million in royalties from Spotify more than doubling since 2023 and tripling compared to 2022. This rapid increase underscores the immense global popularity and commercial appeal of Nigerian artists, further cementing their place in the international music scene.

Jocelyne Muhutu-Remy, Spotify’s Sub-Saharan Africa Managing Director, expressed her enthusiasm for the achievement: “We remain committed to empowering Nigerian artists to earn from their art whilst maintaining transparency with artists and stakeholders. The incredible growth of Nigerian music, both locally and globally, is a testament to the talent and creativity within Nigeria, and we are proud to support its continued rise.”

The Global Impact of Nigerian Music

This financial milestone not only showcases the commercial success of Nigerian artists but also underscores the growing influence of Nigerian music on the global stage. From Afrobeat to Afropop, Nigerian artists are making waves internationally, with their sounds resonating with millions of listeners worldwide.

The data from Spotify reflects the increasing prominence of Nigerian music, which has become a dominant force in global music charts, festivals, and collaborations. The rise in royalties earned by Nigerian artists indicates not just a boom in local music consumption, but also a significant impact on the global music industry.

Spotify’s Commitment to Supporting Nigerian Artists

As Nigerian music continues to break barriers, Spotify remains dedicated to supporting the creative industry. The streaming platform’s commitment to providing a transparent and lucrative space for artists has played a key role in the growth of Nigerian music, allowing artists to capitalize on their talent and reach audiences around the globe.

The future looks bright for Nigerian artists as they continue to redefine the global music landscape, with Spotify and other platforms providing the necessary tools for their continued success.

With this monumental achievement, Nigerian music is set to soar even higher in 2025 and beyond, as more artists achieve financial success and global recognition.

Spotify 2024 Report Highlights Major Growth for Nigerian Artists

1. Nigerian Artists Gained Over 1 Billion New Listeners
   Nigerian artists were discovered by first-time listeners over 1 billion times on Spotify in 2024, marking a massive increase in their global reach.

2. Increase in Playlist Additions
   Over 1,900 Nigerian artists were added to Spotify’s editorial playlists in 2024, representing a 33% increase compared to 2023.

3. Global Royalties Play a Key Role
   A significant portion of the ₦58 billion in royalties earned by Nigerian artists on Spotify came from listeners outside Nigeria, highlighting the global appeal of Nigerian music.

4. Global Spread of Nigerian Music
   The fact that a substantial portion of streaming revenue is generated from international listeners reflects the global spread of Nigerian music and its rising influence on the global stage.

5. Room for Growth in Nigeria’s Streaming Capacity
   This success underscores the importance of improving internet infrastructure and strengthening the economy within Nigeria to further boost the country’s streaming capacity and music industry potential.

6. Cultural Impact of Nigerian Music
   The report also underscores the cultural impact of Nigerian music:

   • Global listeners collectively spent over 1.1 million hours streaming Nigerian artists.
   • Users have created approximately 250 million playlists featuring Nigerian artists worldwide.

7. Nigerian Music Exports Continue to Grow
   Nigerian artists have seen a 49% growth in exports over the past three years, solidifying their presence in international markets.

8. Remarkable Growth in Local Consumption
   Local consumption of Nigerian music has skyrocketed with a 206% year-over-year increase and an astounding 782% growth over the past three years.

This remarkable growth signals a bright future for Nigerian music on the global stage, with continued support from streaming platforms like Spotify playing a key role in its expansion.