Nigerian music has achieved a significant financial milestone, with royalties earned by Nigerian artists on Spotify surpassing ₦58 billion in 2024.


This remarkable figure is more than double the amount recorded in 2023 and five times higher than in 2022, highlighting the rapid growth of the industry.


It is a key highlight of Spotify's 2024 Loud & Clear report, which disclosed that the platform paid out $10 billion in royalties in 2024—an impressive 100% increase from its payouts a decade ago.


The report also reveals that the number of Nigerian artists earning at least ₦10 million in royalties from Spotify has more than doubled since 2023 and tripled compared to 2022, emphasizing the global commercial expansion of Nigerian music.


"We remain committed to empowering Nigerian artists to earn from their art while ensuring transparency with artists and stakeholders," said Jocelyne Muhutu-Remy, Spotify's Managing Director for Sub-Saharan Africa.