What it’s worthwhile to know
- Spotify has launched its annual “Loud and Clear” report — a complete have a look at how artists have carried out on the platform.
- Spotify stated it paid out over $10 billion to the music business globally in 2024, marking the most important single-year payout by any retailer in music historical past.
- The report means that within the final yr alone, Canadian artists earned practically CAD $460 million in royalties on Spotify.
- Spotify experiences that Canadian music income has grown by 129% over the previous 5 years, reaching CAD $909 million in 2024 alone.
Spotify just lately printed its annual “Loud and Clear” report, by which it discusses the economics of music streaming yearly. This yr, Spotify stated it paid out over $10 billion to the music business globally in 2024, marking the most important single-year payout by any retailer in music historical past.
The report additionally provides that almost 1,500 artists generated over $1 million in royalties from Spotify alone in 2024. And 80% of those artists did not have their music attain the Spotify World Day by day High 50 chart. Which means, with out having a mainstream hit, they had been nonetheless in a position to generate income.
The shocking half, nevertheless, is that Canadian artists appear to be thriving globally, and in 2024, Canadian music artists earned CAD $460 million in royalties on Spotify, which is sort of double the earnings they made since 2019. Spotify says this was potential as a result of Canadian-grown international stars like The Weeknd, Justin Bieber, Céline Dion, and extra have constructed a powerful basis for budding artists.
“That’s not simply streams; that’s sustainable careers being inbuilt studios, basements, and tour vans from Vancouver to Halifax,” the streaming big added.
Talking of the place these royalties had been earned, Spotify says that 94% of the cash earned by Canadian artists by Spotify got here from exterior Canada.
This implies Canada has turn out to be one of many world’s prime music exporters, and that Canadian music is just not solely being streamed domestically but additionally in “cities like Jakarta, Osaka, Melbourne, London, São Paulo, Berlin, Mexico Metropolis, and Seoul.”
Since Canada is a bilingual nation, its French music additionally noticed a 15% development in international Spotify royalties simply prior to now yr.
As an example, “Québécois artist Patrick Watson’s ‘Je te laisserai des mots’ was the most well-liked francophone monitor on Spotify globally in 2024, and the primary French-language monitor to go 1 billion streams,” the report acknowledged.
Moreover, Spotify says that Canadian ladies have additionally been on the entrance and heart of music creation, and since 2020, their international streams on Spotify have additionally doubled. And as of 2024, “40% of Canadian artists incomes over CAD $1 million on Spotify had been ladies or in teams with each female and male members.”
“That is what Canada feels like—numerous, digital, and never simply thriving domestically, however main on the world stage. The info is obvious in underscoring the important position that export performs in sustaining the general well being of Canada’s music business,” stated Xenia Manning, director of World Music Coverage, Spotify.
