Nigerian Artists Reap Over N25 Billion from Spotify Royalties in 2023

By Milcah Tanimu

According to Spotify’s recent announcement, the earnings of Nigerian artists from royalties on the platform surged in 2023, surpassing a remarkable N25 billion mark. This figure showcases a significant increase from previous years, with the number of artists earning over 10 million NGN quadrupling since 2018.

Sub-Saharan Africa’s music market, as outlined in the 2024 IFPI report, stands out globally with a remarkable growth rate of 24.7%. This surge in revenue, fueled predominantly by paid streaming services, contributes 24.5% to the total revenue, with Nigeria playing a pivotal role.

The Nigerian music industry’s remarkable growth trajectory is further exemplified by its dominance in streaming. With a population of approximately 230 million and a vibrant music scene, Nigeria’s artists are making waves globally, propelled by platforms like Spotify.

Spotify’s recent Loud & Clear report sheds light on the streaming economy, revealing key insights into Nigerian music streaming. In 2023 alone, streaming royalties for Nigerian artists on Spotify exceeded N25 billion, marking a significant leap from previous years. Moreover, the report highlights the democratizing power of streaming, with over half of these royalties going to independent artists or labels.

Listeners on Spotify discovered Nigerian artists nearly 950 million times in 2023, showcasing the platform’s role in amplifying their voices globally. Additionally, Nigerian artists dominated the country’s daily top 50 chart, owning over 80% of the tracks featured. Furthermore, over 1,400 Nigerian artists were added to Spotify editorial playlists, further expanding their reach.

Jocelyne Muhutu-Remy, Spotify’s Managing Director for Sub-Saharan Africa, emphasized the platform’s commitment to supporting African creators. She noted that the significant growth in royalties reflects the talent and global appeal of Nigerian artists. With Spotify’s continued investment in African artists, this momentum is expected to fuel the Nigerian music revolution further.

The surge in streaming revenue for Nigerian artists underscores the increasing exportation of Nigerian music globally. Notably, Rema’s ‘Calm Down’ featuring Selena Gomez became the first Afrobeats song to reach 1 billion Spotify streams, highlighting the genre’s global impact and potential for further growth.