Spotify Paid Out $7 Billion to the Music Industry in 2021 – More Than Any Other Service

(CelebrityAccess) – Spotify has revealed its numbers, exhibiting that it paid $7 billion to artists in 2021, greater than every other streaming service. The determine contains recorded music and publishing.

The information was printed on the corporate’s Loud and Clear web site, which goals to indicate transparency for artists and trade professionals. By way of Loud and Clear’s web site: “Artists deserve readability concerning the economics of music streaming. Final 12 months, we launched this website to extend transparency by sharing new information on Spotify’s royalty funds and breaking down the worldwide streaming financial system, the gamers, and the method.”

Spotify additionally revealed streaming income alone exceeded complete trade income for annually from 2009 to 2016. The IFPI not too long ago issued its international music report that confirmed streaming driving all development in revenues for 2021.

Spotify’s information replace additionally exhibits that main report labels earned over $4 billion in revenue in 2021, once more pushed by streaming. Spotify claims that on the peak of the CD period, it favored superstars twice as a lot because the streaming period. For the second 12 months working, the streaming goliath has paid out greater than a billion {dollars} to publishing rights holders.

For the primary time in its historical past, over 1,000 artists generated over $1 million on Spotify. Over 50,000 artists generated $10,000 from Spotify alone – and certain over $40,000 throughout all recorded income sources, in accordance with the digital service supplier (DSP).

Greater than 28% of artists who generated over $10,000 self-distribute to Spotify. And 34% of artists who generated greater than $10,000 on Spotify reside in international locations exterior the Prime 10 music markets.

Self-releasing artists are rising at a sooner price than different areas of the market with companions corresponding to Tunecore. TikTok has not too long ago introduced that it’ll assist acts distribute to DSPs together with Spotify. One of many key takeaways listed on the Loud and Clear web site is that “Artists can go from ‘zero to profession’ sooner than ever, powered by streaming”.