Spotify payouts to Nigerian artists more than double in 2024
Nigeria saw a 132% increase in Spotify payouts in 2024, fuelled by both worldwide and local listening.
In 2024, Nigerian artist experienced a significant surge in Spotify payouts, reflecting the global rise of Afrobeats and the country’s vibrant music scene. The figures display growth of more than double compared to 2023, and five times more payouts than 2022.
Spotify’s payouts to Nigerian artists reached ₦58 billion (approximately $37.8 million), marking a 132% increase from ₦25 billion in 2023. These figures are based on payours to rightsholders rather than individual artists, so how much exactly is earned by Nigerian musicians depends on their deals with labels, publishers, distributors, etc.
This impressive growth can be attributed to a healthy appetite for Afrobeats both locally and globally. In fact, accoring to stats shared by Vanguard, listeners worldwide spent over 1.1 million hours enjoying tracks from Nigerian artists in 2024, with around 250 million playlists featuring their songs.
Domestically, the Nigerian audience’s engagement with local music intensified, with a 206% increase in streaming within the country. This surge indicates a robust local fan base that continues to support homegrown talent.
The Afrobeats genre, characterized by its energetic rhythms and fusion of traditional and contemporary sounds, has been instrumental in this growth. The genre’s popularity has transcended borders, leading to collaborations with international artists and performances on global stages.
The broader African music industry also witnessed significant advancements. Recorded music revenues in sub-Saharan Africa grew by 22.6% in 2024, reaching $110 million, according to IFPI’s recent Global Music Report. While South Africa accounted for nearly three-quarters of this total, Nigeria’s market experienced a substantial spike in revenues, nearly tripling from 2023.
Industry leaders emphasize the importance of continued investment in Africa’s music sector. Tega Oghenejobo, COO of Mavin Global, highlighted the continent’s vast potential, stating that stakeholders should “identify young artists and develop the space.” This sentiment encourages labels, digital service providers, and other industry players to nurture emerging talents and infrastructure.
