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.
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