The Swedish streaming giant announced the record-breaking payments as part of its continued push for artist compensation, marking a tenfold increase from the $1 billion it paid in 2014.
According to the company, nearly 1,500 artists earned over $1 million in royalties from Spotify in 2024 alone, while the number of artists making between $1,000 and $10 million annually has tripled since 2017. Notably, a quarter of the 12,500 artists earning more than $100,000 last year hadn’t even released professional music five years ago—highlighting the platform’s role in emerging artist success.
Spotify also reported a historic rise in female artist earnings, with the number of women making over $1 million annually quadrupling since 2017. Countries like Canada, South Korea, Sweden, and Argentina have seen particularly strong representation of women among their top streaming artists.
Despite its record-breaking payouts, Spotify has faced legal battles over royalty distribution. The company was sued in the U.S. last year for allegedly underpaying songwriters, but a federal judge in New York dismissed the lawsuit in 2024. In response, Spotify emphasized its commitment to fair compensation and industry-wide growth, noting that music publishing payments surpassed $4.5 billion to songwriters and copyright holders over the past two years.
Spotify’s financial success has mirrored its rising payouts. The company’s Q4 2024 revenue jumped 16% to €4.24 billion ($4.38 billion), surpassing expectations. Its premium subscriber base grew 11% to 263 million, while monthly active users soared 12% to 675 million, both exceeding analyst forecasts.
