Spotify paid a record $10 billion to the music industry in 2024, bringing its total payouts to nearly $60 billion. Over 10,000 artists earn $100K+ annually, with 1,250 making over $1M and 60 surpassing $10M. Spotify pays $3.0 per 1,000 streams, lower than competitors like Apple Music ($6.2) and Amazon Music ($8.8). With 252 million subscribers, Spotify credits curated playlists, AI DJ and market expansion for its success. The company believes global paid music subscribers could soon reach 1 billion.
Source: GSMArena
