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Last year, Spotify paid a record 10 billion dollars in royalties to artists.
Streaming giant Spotify announced on Wednesday that the company paid a record $10 billion in royalties to artists in 2024. The company stated that this is the largest single-year expenditure in the history of the music Industry. Among this total, nearly 1,500 artists earned royalties exceeding $1 million. This Swedish company noted that its royalty payments have grown tenfold from $1 billion in 2014. Last year, Spotify was sued in the USA, accused of underpaying royalties for tens of millions of songs. This year, a federal judge in New York ruled to dismiss the lawsuit. Spotify recently partnered with Hu.
