Spotify has released the platform’s 2022 revenue earnings data through the loud and clear. The disclosed information points out that streaming has been responsible for 20% of the revenue created from music recordings worldwide.
These data show a significant jump over the years from the less than 15% it achieved in 2017. Collectively, Spotify’s total payments to music rights holders already amount to nearly US$40 billion (R$199 billion), says the Omelette.
These numbers represent only part of the picture. Spotify is one of several streaming services that generate revenue for the music industry, accounting for only a fraction of all industry revenue. There are also physical sales, tours, commercials, syncs and other sources of profit.
Spotify, in a statement
“Spotify helps generate over 20% of music recording revenue worldwide (down from 15% in 2017),” Spotify points out. “If you want a rough estimate, multiply Spotify’s revenue by four to get the approximate amount of artists generated from all revenue sources in 2022.”
Understand how royalties work
Spotify also revealed that the 200,000 professionals using the platform were responsible for generating 95% of all royalties in 2022. On the other hand, more than a quarter of artists who generated more than US$10,000 (R$49 .8 thousand) do the distribution individually in streaming.
Spotify post reveals royalty data for 2022; check out first appeared on Olhar Digital.
Source: Olhar Digital
Rose James is a Gossipify movie and series reviewer known for her in-depth analysis and unique perspective on the latest releases. With a background in film studies, she provides engaging and informative reviews, and keeps readers up to date with industry trends and emerging talents.
