In March this year, Spotify updated its annual “Loud & Clear Music Economics Report”, confirming that as of early 2024, Spotify’s historical maximum amount paid to music industry copyright holders exceeded $48 billion.
These rights holders include record labels, publishers, independent distributors, performing rights organizations and rights management societies.
The music streaming service also revealed it was paying more than $9 billion The fee paid to the music industry in 2023 has been described as “the highest annual fee paid to the music industry by any single retailer”.
According to Spotify, $9 billion Annual spending figures for 2023 “almost three times The past six years since 2017″.
This month, Spotify also released streaming royalty data for multiple independent streaming markets in Europe, including the UK, Sweden, Denmark, and Italy.
U.K.
Spotify reports that UK artists will generate more revenue on its platform in 2023, including music recording and publishing £750 million (U.S.$932.83 million based on the annual average exchange rate published by the IRS).
The company said the number “exceeds double Compared to 2017.” It did not report the amount paid in 2022 for our year-over-year comparison.
Spotify breaks down the UK numbers further and reports that more than 40% All royalties generated by UK artists on Spotify in 2023 come from independent artists or labels.
According to our estimates, 40% UK artists’ share of total royalties generated on Spotify in 2023 (£750m) equals 300 million pounds ($373 million).
In March, as part of global statistics released in the company’s Loud & Clear Music Economics Report, Spotify revealed that independent artists (including DIY performers and those signed to independent labels) will generate nearly $4.5 billion On Spotify, it accounts for approx. 50% of more than $9 billion Last year, the entire industry released this work on Spotify.
Spotify also reports that close to 1,000 British artists at least produced £100,000 In 2023, Spotify’s royalties alone will reach $124,378, which is said to be “more than double the amount in 2017.”
British artists have more than £10,000 ($12,437) and £50,000 Spotify royalties alone have doubled in 2023 since 2017 ($62,189).
However, one of the most interesting statistics is this: Spotify has confirmed 75% In 2023, all royalties generated by UK artists on the platform will come from listeners external British.
Commenting on the statistics, Safiya Lambie-Knight, head of music at Spotify UK/IE, said: “While the UK has long had a rich musical heritage, it’s incredible how streaming and Spotify are helping British talent expand their audiences globally. group.
“We work every day to innovate ways to help more artists earn and grow, so it’s great to see that three quarters of royalties for UK artists come from listeners outside the UK, which shows how more artists are connecting with fans around the world. .
The export success of British artists was highlighted in 2018, when Will Page, Spotify’s economic director, revealed in a speech in London that for every play played domestically, a British musician attracted four plays in the country. Played overseas.
According to the IFPI, the UK is the world’s third largest recorded music market, behind Japan (second) and the United States (first).
Sweden
Elsewhere in Europe, Swedish artists will earn nearly as much in royalties from Spotify alone in 2023 SEK 1.8 billion (USD 169.6 million)According to Spotify, this number is more than double that of 2017.
Meanwhile, according to Spotify, more than 500 Swedish artist has created more than 500000 Swedish Krona ($47,112 USD) will be available from Spotify in 2023.
According to Spotify, nearly half of all royalties generated by Swedish artists on its platform in 2023 will come from independent artists or labels.
Denmark
By 2023, Danish artists will create more than DKK 311 million ($45.1 million) Royalties from Spotify Alone. According to Spotify, this increase exceeds 75% Since 2017.
At the same time, according to SPOT reports, 111 Danish artists have created more than DKK 500,000 ($72,568) per artist from Spotify in 2023. 60% Since 2018, according to Spotify.
almost 45% In 2023, 1% of all royalties generated by Danish artists on Spotify will come from listeners outside Denmark.
Germany
For additional comparison with other mature streaming markets in Europe, Spotify It has been confirmed to MBW that German recorded music and music publishing royalties for 2023 are €409 million ($442.64 million).
According to IFPI data, Germany is the world’s fourth largest recorded music market.
A Spotify spokesperson pointed out that this figure is significantly lower than the UK, but annual payment figures in Germany have “quadrupled since 2017” and are growing faster than the UK, but from a lower base.
Italy
Spotify reports that by 2023, Italian artists will earn more than €126 million ($136.36 million)it says, marking more than 400% This is an increase compared to 2017.
Spotify says it’s “close to 50%In 2023, 1% of all royalties generated by Italian artists on Spotify will come from listeners outside Italy.
Spotify has confirmed that by 2023, there will be more than 1,200 Italian artist produces more than 10,000 euros ($10,822) royalties from Spotify. That number has more than tripled since 2017, according to SPOT.
Meanwhile, according to Spotify, Italian artists have created more than 50,000 euros Spotify royalties alone ($54,112) have nearly doubled since 2019 and have more than quadrupled since 2017.
According to the company, while Italian music industry revenue overall increased by 18.8% from 2022 to 2023 (according to IFPI), revenue generated by Italian artists (from Spotify alone) increased by 20% during the same period.
Italian artist responsible for recent 80% One of Italy’s daily Top 50 selections in 2023.
All EUR-USD and GBP-USD conversions in this report are based on annual average exchange rates provided by the IRS.
global music business
