Spotify’s Payments to the Music Industry Nearing $40 Billion

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Spotify’s Payments to the Music Industry Nearing $40 Billion
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Spotify announced Wednesday that its all-time payouts to music-rights holders are approaching $40 billion. The company said it pays out nearly 70% of every dollar it generates from music back to th…

already have. Spotify’s U.S. streaming subscription prices have not risen since the company launched in the country nearly a dozen years ago.

The company says that the number of artists generation more than $1 million annually??, as well as those generating more than $10,000, has more than doubled in the past five years, with around 1,060 artists in the million category and approximately 57,000 in the $10k. “These figures represent revenue generation from Spotify alone,” the announcement details. “When taking into account earnings from other services and recorded revenue streams, these artists likely generated 4x this revenue from recorded music sources overall.”

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