Spotify paid a record $10B in royalties in 2024, with 1,500+ artists earning over $1M. Despite growth, it faced legal challenges over songwriter payments, though a U.S. lawsuit was dismissed. Streaming's impact on artist revenue remains a key industry debate.
Spotify has announced that it paid out a record-breaking $10 billion in royalties to the music industry in 2024, marking the largest annual payout in its history. The Swedish streaming giant revealed that nearly 1,500 artists earned over $1 million in royalties last year, reflecting the platform’s continued influence on the music business.
Over the past decade, Spotify’s annual royalty payments have surged tenfold, rising from $1 billion in 2014 to the current $10 billion milestone. This growth highlights the increasing role of streaming services in shaping modern music consumption and artist revenue.
However, Spotify faced legal challenges last year, including a lawsuit in the United States that accused the company of underpaying songwriting royalties for millions of tracks. A federal judge in New York dismissed the case in 2024, easing concerns about potential financial repercussions.
As Spotify continues to expand, its impact on the music industry remains significant. While the record payout is a positive sign for artists and rights holders, ongoing discussions about fair compensation in the streaming era are likely to persist.
Pakistan has called for a two-week extension to a deadline imposed by Donald Trump, as Islamabad seeks to mediate bet...
The third Turkish-owned vessel has departed the Persian Gulf via the Strait of Hormuz, Transport Minister Abdulkadir Uraloğlu said on Monday....
A gunfight with police outside the Israeli consulate in Istanbul’s Beşiktaş district left at least one attacker dead and two others in...
Iran said on Monday it wanted a lasting end to the war with the U.S. and Israel, and pushed back against p...
Construction has begun on a major new solar power project in Xizang, as China continues to expand its renewable energy capacity and push towards a ...
The third Turkish-owned vessel has departed the Persian Gulf via the Strait of Hormuz, Transport Minister Abdulkadir Uraloğlu said on Monday.
Iran said on Monday it wanted a lasting end to the war with the U.S. and Israel, and pushed back against pressure to reopen the Strait of Hormuz, while U.S. President Donald Trump warned the country could be "taken out" if it did not meet his Tuesday night deadline to reach a deal.
The UN Security Council has failed to back a Bahraini resolution aimed at reopening the Strait of Hormuz, after China and Russia used their vetoes on Tuesday (7 April). The draft resolution called for coordinated "defensive measures" to ensure freedom of navigation in the strait.
Construction has begun on a major new solar power project in Xizang, as China continues to expand its renewable energy capacity and push towards a greener future.
U.S. President Donald Trump on Monday told reporters that Iran could be taken out in one night, "and that night might be tomorrow night," warning Tehran it had to make a deal by Tuesday night or face wider bombing raids.
The crew of Artemis II mission are entering a pivotal phase of their journey, as they prepare to swing around the Moon and head back towards Earth. Now on the fifth day of their 10-day mission, the four astronauts are already witnessing views no human has ever seen.
A new proposal to end hostilities between the United States and Iran could come into effect as soon as Monday, potentially reopening the vital Strait of Hormuz, a source familiar with the plan said on Monday.
U.S. President Donald Trump threatened Iran's "whole civilisation" on Tuesday in a post on social media. Meanwhile, the UN failed to reach an agreemement on a resolution aimed at reopening the Strait of Hormuz, after China and Russia used their vetoes.
Oil prices rose sharply on Monday as fears deepened over potential supply shortages caused by the ongoing conflict in the Middle East, unsettling global energy markets and the row over the Strait of Hormuz, raising concerns for consumers and businesses alike.
Major automakers showcased new electric vehicles at the New York Auto Show this week, under the slogan “electrification is the future." However, weakening demand in the United States and intense competition with China are raising questions for markets across the globe, including the South Caucasus.
The U.S. national average retail price of petrol rose above $4 a gallon for the first time in over three years on Monday (30 March), according to GasBuddy data, as the U.S.–Israeli war with Iran continued to roil global energy markets.
Japan and Indonesia will deepen coordination on energy security, Tokyo said, as the U.S.-Israeli war on Iran disrupts vital oil and gas flows to Asia.
China's three largest state-owned airlines have issued warnings regarding their financial outlook for the current year, acknowledging that the eruption of war involving Iran has driven jet fuel prices to unsustainable highs.
Stock markets across Asia fell on Monday as escalating conflict involving Iran drove oil prices sharply higher, fuelling fears of inflation and a potential global recession, with investors reacting to disruption risks in the Strait of Hormuz and prolonged hostilities.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment