Royalties earned by EU artists on Spotify have tripled in the past six years, and listener tastes have become increasingly localized.
So says Spotify’s first EU-focused project Report loud and clearwhich breaks down Spotify listener and royalty data specifically for the EU for the first time.
Report finds that by 2023, EU artists will have created almost 1.5 billion euros (US$1.62 billion Royalties from the Spotify platform at average 2023 exchange rates, 16% annual increase In 2017, that number tripled from six years earlier.
The report also found that listeners’ tastes are increasingly localized. 44% Royalties generated in the EU flow to EU artists. Spotify said this was the highest percentage since it began tracking the data in 2017.
This is consistent with observations by others. In an MBW column earlier this year, Will Page (former chief economist at Spotify) and Chris Riva Dara document the increasing popularity of local music in many markets, especially Europe, which they term “glocalization,” whereby local music becomes increasingly popular in an increasingly globalized music market.
Usage data comes from brightthey found that local artists gained more than 80% By 2023, local artists will account for more than half of the top 10 live streams in Sweden and Poland among the top 10 live streams in Germany, France and Italy.
Spotify’s European report also found that more than 15,000 European artists produced at least 10,000 euros ($10,800) will have more plays on Spotify by 2023 25,000 At least there are artists 5,000 euros ($5,400).
Globally, European artists are being discovered by new audiences 28 billion the number of times in a year, and 50,000 In 2023, EU artists are added to the editorial playlist.
Spotify noted that it is “the only streaming provider that shares artist compensation data.”
“At Spotify, we believe artists around the world deserve transparency into the music streaming economy. That’s why we’re excited to debut Spotify’s European Loud and Clear data, following our global and local reporting on a number of European markets. Federica Tremoradasaid in a statement.
“Showing how streaming can help European artists transcend geographical boundaries and build a global fan base is a key part of our mission.”
The latest data follows Spotify’s global Loud & Clear report released in February.
Report says music streaming service has paid $9 billion Last year’s winners included record labels and music publishers, as well as independent publishers, performing rights organizations and collecting societies.
Spotify says that number has “nearly tripled in the past six years.”
Given that Spotify has produced 13.247 billion euros (US$14.336 billion) of revenue in 2023, indicating that the company paid approx. 62.8% Half of its revenue last year came from the music industry.
Spotify also releases country-specific data for several European countries, as well as some countries outside Europe, including Brazil and Canada. Below, we set out the key points from these reports.
(For coverage of the UK, Sweden, Denmark and Italy, click here.)
Germany
more than 1,000 german artist born 50,000 euros By 2023, the number of artists achieving this on Spotify will be four times as high as in 2017.
German artists earn more than €409 million ($442.7 million) by 2023, revenue will quadruple 2017 levels.
German artist accounts for 73% The top 50 German daily books of 2023.
France
Spotify report on France finds that more than 65% French artists on Spotify generate revenue from independent artists or labels.
The report also found 71% Nine of France’s daily top 50 artists in 2023 are French. With more than half of French artists’ income coming from outside France, French artists are being discovered by new audiences 4.8 billion Many times a year around the world.
Canada
Royalties generated by Canadian artists on Spotify reach CAD 435 million ($322.25 million) by 2023, will increase 15% annual increaseand outpaced the revenue growth of the country’s music industry 12%says Spotify.
Some Canadian artists discovered by new listeners 3.8 billion global time of year, and 92% All royalties generated by Canadian artists come from listeners outside of Canada.
Brazil
more than 70% In 2023, 10% of the revenue generated by Brazilian artists on Spotify will come from independent artists or labels, and the revenue generated by Brazilian artists has quadrupled since 2018.
In 2023, the number of artists produced 100,000 Brazilian Reals ($20,023) or more, four times the number of artists who produced that amount in 2018.
Spotify users discover Brazilian artists around the world 10 billion In 2023.
All U.S. dollar exchange rates quoted in this article are based on average exchange rates for 2023.global music business
