In 2022, Nigerian musicians generated revenue surpassing N11 billion on Spotify.

Date:

On Thursday, the company issued a statement to our correspondent, revealing a 63% increase in revenues within the Nigerian music industry from 2021 to 2022.

Notably, their earnings from Spotify alone surged by 74% during the same period.

The company highlighted that in 2022, there was a 25% growth in the count of Nigerian artists who earned royalties exceeding N5 million and N10 million solely from Spotify.

It’s important to note that this data only considers Spotify earnings and doesn’t encompass other revenue streams like concert tickets, merchandise, or various services.

Jocelyne Muhutu-Remy, Spotify’s Managing Director for Sub-Saharan Africa, emphasized their commitment to supporting musicians’ livelihoods through their platform.

By disclosing the 2022 revenues generated by Nigerian artists, Spotify aims to uphold its mission of enabling artists to sustain themselves through their artistic work.

Furthermore, the company drew attention to the surge in Afrobeats’ popularity, highlighting its cross-border influence not only in music but also as a conduit for sharing food, dance, and language.

The company also pointed out that beyond Lagos, key cities where Afrobeats garners significant streams include London, Paris, Abuja, Nairobi, Amsterdam, and Accra.

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

spot_imgspot_img

Popular

More like this
Related

Bidemi Rufai released from U.S. prison, faces deportation after multimillion-dollar fraud conviction

Bidemi Rufai released from U.S. prison, faces deportation after...

Appeal Court Sacks MC Oluomo As NURTW President

The Court of Appeal, Abuja Division, has declared Alhaji...

Tears as Lagbaja buried in Abuja, gets posthumous national honour

Emotions ran high as the Chief of Army Staff,...

MultiChoice writes off $21m deposited in defunct Heritage Bank

MultiChoice Group Limited has written off $21m deposited in...