How Nigerian Musicians Made N11 Billion from Spotify in 2022 
Home Entertainment How Nigerian Musicians Made N11 Billion from Spotify in 2022 
Entertainment - August 10, 2023

How Nigerian Musicians Made N11 Billion from Spotify in 2022 

The central theme of this week’s update on Spotify’s “Afrobeats: Journey of a Billion Streams” website revolves around the ongoing cultural dissemination attributed to the widespread presence of Afrobeats within mainstream global media introduced by Spotify just last month.

The website serves as a chronicle of Afrobeats’ expansion from its West African origins to its prominent position on the international stage. To date, the site has traced Afrobeats’ beginnings in Ghana and Nigeria, its transformative journey into its present-day sound, and its seamless fusion with diverse musical genres.

The rise in popularity of Afrobeats can be attributed to multiple influences, notably global partnerships, the influential role of social media, the surge in music streaming, and the pervasive impact of the African diaspora. 

Afrobeats rising globally

According to research, Spotify reveals that 28% of enthusiasts consider international collaborations to be a pivotal catalyst propelling Afrobeats’ expansion. 

These insightful findings, accompanied by an in-depth article exploring Afrobeats as a medium for cultural export, take center stage in the latest update to the website. Esteemed experts return to the spotlight, sharing their perspectives on the global dissemination of Afrobeats. 

Benewaah Boateng, Spotify’s West Africa Editor, Efya, a Ghanaian artist, Seyi Shay, a Nigerian singer and songwriter, Kofi Bansah, a Ghanaian music producer, Obi Asika, CEO of Storm Records, one of Nigeria’s pioneer music labels, and May7ven, a UK-based Afrobeats artist and pioneer, are all featured in this week’s video series, sharing their insights on the global impact of Afrobeats.

Spotify helps musicians to reach many streams

African creators are now able to derive income from their art through music streaming, facilitated by Spotify’s reach of 550 million active users on its platform. This exposure leads to the cultivation of fresh audiences and an increased volume of streams for these artists.

Spotify’s recently unveiled annual report, titled “Loud & Clear,” aims to enhance transparency within the music industry by disclosing data related to Spotify’s royalty payments and dissecting the global streaming economy. This augurs well for Afrobeats artists, who are poised to experience a boost in earnings on the platform.

Nigerian artist earnings in 2022

In the year 2022, Nigerian artists generated revenues exceeding 11,000,000,000 NGN solely from Spotify. Meanwhile, the broader revenues of the Nigerian music industry witnessed a 63% growth from 2021 to 2022 (as per IFPI data), but revenues generated exclusively by Nigerian artists from Spotify experienced an even more substantial 74% increase during the same timeframe.

Over the past year, the count of Nigerian artists who earned royalties exceeding 5 million NGN and 10 million NGN solely from Spotify has risen by almost 25%.

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