Muhutu-Remy in a statement said the streaming platform paid out $14,300,704 equivalent to about 11 billion naira to the artistes in the year 2022. She further added that, the revenue generation by Nigerian artistes grew by 74% over the period under consideration.
“In 2022, revenues generated by Nigerian artistes from Spotify alone reached over $14,300,704, while Nigerian music industry revenues overall have grown by 63 per cent from 2021 to 2022.
“Revenues generated by Nigerian artistes from Spotify alone grew 74 per cent over this same period... The number of Nigerian artistes who generated more than N5 million and N10 million in royalties from Spotify alone has increased by nearly 25 per cent over in 2022.
“This figure represents revenue generated from Spotify alone, and does not take into account earnings from other services and recorded revenue streams, concert tickets or merch,” she noted.
Muhutu-Remy also mentioned that, it is the priority of Spotify to ensure that artistes gain substantially for their talents and hard work. She further added that, the release of the revenues generated by the artistes is a way to show accountability.
“Our commitment at Spotify is to ensure that professional musicians make a living from their work… 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,” she added.
Nigerian musicians are debatably the most marketable artistes in West Africa. Judging from their contributions to music in the year under review, one will not be surprised after hearing the amounts they made as royalties.
Top names in the Nigerian music industry include, Burna Boy, Rema, Davido, Wizkid, Tiwa Savage etc.
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