Spotify’s surprising results in Spain in summary
Image credit: Max Harlynking
Spotify have revealed the surprising number of artists earning over €10k in Spain with results from last year.
Spotify has a global grip on music streaming. To represent their influence across the world and the importance they play in artists’ careers, they’ve been revealing their 2023 results at a national level.
The latest reveal represents great news for Spanish artists. Spotify reveal that they paid out more than €123 million in royalties to Spanish artists last year. They say that thanks to considerable growth in the country, the roughly $131.9 million in earnings is “almost quadrupling those generated in 2017”.
Spotify told how the number of artists finding considerable success in Spain is growing. Around 1,300 Spanish artists generated more than €10,000 from Spotify royalties alone in 2023. This is triple the number of artists earning the same in 2017.
Spain saw quicker growth than the rest of the world. Whilst global revenues grew by 15% for Spotify, revenues for Spain steamed ahead with an astonishing 24% growth between 2022 to 2023. Finally, Spotify revealed that the love of Spanish music is global: 50% of all royalties to Spanish artists came from outside Spain.
In a celebration of how music streaming is bolstering independent music, nearly 60% of Spotify’s payouts in Spain went to independent artists and labels. Spotify’s global results revealed that over half of their revenues paid out around the world went to independents last year.
Spotify have revealed a number of national successes around the world with their Loud and Clear reports. These reports show how artists in each country are benefitting from Spotify royalties. Other reports have shone a light on UK and Australian artists.