Nigerian music has reached a monumental financial milestone, with royalties generated by Nigerian artistes on Spotify alone exceeding ₦58 billion in 2024—more than double the figure from 2023 and five times greater than 2022.
This figure headlines Spotify’s 2024 Loud and Clear report released on Thursday.
The report also reveals that the number of Nigerian artists generating ₦10 million in royalties from Spotify has more than doubled since 2023 and more than tripled compared to 2022 figures, underscoring the explosive commercial growth of Nigerian music globally.
“We remain committed to empowering Nigerian artistes to earn from their art whilst maintaining transparency with artistes and stakeholders.
“The incredible growth of Nigerian music, both locally and globally, is a testament to the talent and creativity within Nigeria, and we are proud to support its continued rise,” says Jocelyne Muhutu-Remy, Spotify’s Sub-Saharan Africa Managing Director.
Nigerian artistes were discovered by first-time listeners over one billion times on Spotify in 2024.
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More than 1,900 Nigerian artistes were added to Spotify editorial playlists—33 per cent more than in 2023.
A significant portion of the ₦58 billion in royalties earned by Nigerian artistes came from listeners outside Nigeria.
The report also highlights the broader cultural impact of Nigerian music, with global listeners on average spending over 1.1 million hours streaming Nigerian artistes.
Users have created approximately 250 million playlists featuring Nigerian artistes worldwide.
Nigerian artists have seen a 49% export growth over the past three years.
Local consumption of Nigerian content has grown 206 year-over-year, with a remarkable 782 per cent increase over the past three years.
This unprecedented financial success reflects the dynamic creativity emerging from Nigeria’s music scene and signals Spotify’s ongoing commitment to supporting artistic talent across the region.
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