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.
Ferrari's Lewis Hamilton, Formula One's most successful driver with seven world championships and a record 105 wins, said on Thursday he had sold his ...
Scientists and guests gathered at Boston University in Massachusetts on Thursday (18 September) for the 35th annual Ig Nobel Prize ceremony, which hon...
Britain and the Republic of Ireland will jointly announce a new framework on Friday to address the legacy of decades of sectarian violence in Northern...
Iraq's attempt to ease its chronic power shortage with gas from Turkmenistan routed through neighbouring Iran has failed under U.S. pressure, leaving ...
South African Trade Minister Parks Tau has met U.S. Trade Representative Jamieson Greer for talks, Tau's office said on Friday, as Africa's biggest ec...
Ferrari's Lewis Hamilton, Formula One's most successful driver with seven world championships and a record 105 wins, said on Thursday he had sold his car collection and was now more into art.
Scientists and guests gathered at Boston University in Massachusetts on Thursday (18 September) for the 35th annual Ig Nobel Prize ceremony, which honours bizarre scientific discoveries.
Britain and the Republic of Ireland will jointly announce a new framework on Friday to address the legacy of decades of sectarian violence in Northern Ireland and replace a controversial British law that offered amnesties to ex-soldiers and nationalist groups.
Iraq's attempt to ease its chronic power shortage with gas from Turkmenistan routed through neighbouring Iran has failed under U.S. pressure, leaving Baghdad scrambling for alternatives to keep the lights on.
AnewZ has learned that India has once again blocked Azerbaijan’s application for full membership in the Shanghai Cooperation Organisation, while Pakistan’s recent decision to consider diplomatic relations with Armenia has been coordinated with Baku as part of Azerbaijan’s peace agenda.
A day of mourning has been declared in Portugal to pay respect to victims who lost their lives in the Lisbon Funicular crash which happened on Wednesday evening.
A Polish Air Force pilot was killed on Thursday when an F-16 fighter jet crashed during a training flight ahead of the 2025 Radom International Air Show.
At least eight people have died and more than 90 others were injured following a catastrophic gas tanker explosion on a major highway in Mexico City’s Iztapalapa district on Wednesday, authorities confirmed.
Germany's parliament approved on Thursday the nation's first annual budget since sweeping reforms to loosen fiscal rules were passed earlier this year, securing record investments to revive the economy while committing to an increase in defence spending.
European shares nudged up on Thursday after the U.S. Federal Reserve lowered borrowing costs for the first time since December, while shares of SIG plummeted after the Swiss-based company issued a profit warning.
Meta Platforms on Wednesday launched its first consumer-ready smart glasses with a built-in display, seeking to extend the momentum of its Ray-Ban line, one of the early consumer hits of the artificial intelligence (AI) era.
Entrepreneur Nelson Yang is reaching back into Taiwan's history to turn the humble banana plant into an unlikely sustainable textile. Taiwan is now the world's dominant producer of advanced semiconductors but the yellow fruit, still widely grown on the island, was once a source of patriotic pride.
Google said on Tuesday it would make £5 billion pounds ($6.80 billion) in new investments into Britain ahead of U.S. President Donald Trump's state visit to the country, which is expected to feature a flurry of business deals and partnerships.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment