In March this 12 months, Spotify up to date its annual “Loud & Clear Music Economics Report”, confirming that as of early 2024, Spotify’s historic most quantity paid to music business copyright holders exceeded $48 billion.
These rights holders embody file labels, publishers, impartial distributors, performing rights organizations and rights administration societies.
The music streaming service additionally revealed it was paying greater than $9 billion The price paid to the music business in 2023 has been described as “the best annual price paid to the music business by any single retailer”.
Based on Spotify, $9 billion Annual spending figures for 2023 “nearly 3 times The previous six years since 2017″.
This month, Spotify additionally launched streaming royalty information for a number of impartial streaming markets in Europe, together with the UK, Sweden, Denmark, and Italy.
U.Ok.
Spotify stories that UK artists will generate extra income on its platform in 2023, together with music recording and publishing £750 million (U.S.$932.83 million primarily based on the annual common trade fee revealed by the IRS).
The corporate stated the quantity “exceeds double In comparison with 2017.” It didn’t report the quantity paid in 2022 for our year-over-year comparability.
Spotify breaks down the UK numbers additional and stories that greater than 40% All royalties generated by UK artists on Spotify in 2023 come from impartial artists or labels.
Based on our estimates, 40% UK artists’ share of whole royalties generated on Spotify in 2023 (£750m) equals 300 million kilos ($373 million).
In March, as a part of world statistics launched within the firm’s Loud & Clear Music Economics Report, Spotify revealed that impartial artists (together with DIY performers and people signed to impartial labels) will generate almost $4.5 billion On Spotify, it accounts for approx. 50% of greater than $9 billion Final 12 months, the whole business launched this work on Spotify.
Spotify additionally stories that near 1,000 British artists a minimum of produced £100,000 In 2023, Spotify’s royalties alone will attain $124,378, which is claimed to be “greater than double the quantity in 2017.”
British artists have greater than £10,000 ($12,437) and £50,000 Spotify royalties alone have doubled in 2023 since 2017 ($62,189).
Nonetheless, one of the vital fascinating statistics is that this: Spotify has confirmed 75% In 2023, all royalties generated by UK artists on the platform will come from listeners exterior British.
Commenting on the statistics, Safiya Lambie-Knight, head of music at Spotify UK/IE, stated: “Whereas the UK has lengthy had a wealthy musical heritage, it’s unbelievable how streaming and Spotify are serving to British expertise increase their audiences globally. group.
“We work day by day to innovate methods to assist extra artists earn and develop, so it is nice to see that three quarters of royalties for UK artists come from listeners exterior the UK, which exhibits how extra artists are connecting with followers all over the world. .
The export success of British artists was highlighted in 2018, when Will Web page, Spotify’s financial director, revealed in a speech in London that for each play performed domestically, a British musician attracted 4 performs within the nation. Performed abroad.
Based on the IFPI, the UK is the world’s third largest recorded music market, behind Japan (second) and america (first).
Sweden
Elsewhere in Europe, Swedish artists will earn almost as a lot in royalties from Spotify alone in 2023 SEK 1.8 billion (USD 169.6 million)Based on Spotify, this quantity is greater than double that of 2017.
In the meantime, based on Spotify, greater than 500 Swedish artist has created greater than 500000 Swedish Krona ($47,112 USD) will likely be out there from Spotify in 2023.
Based on Spotify, almost half of all royalties generated by Swedish artists on its platform in 2023 will come from impartial artists or labels.
Denmark
By 2023, Danish artists will create greater than DKK 311 million ($45.1 million) Royalties from Spotify Alone. Based on Spotify, this enhance exceeds 75% Since 2017.
On the identical time, based on SPOT stories, 111 Danish artists have created greater than DKK 500,000 ($72,568) per artist from Spotify in 2023. 60% Since 2018, based on Spotify.
nearly 45% In 2023, 1% of all royalties generated by Danish artists on Spotify will come from listeners exterior Denmark.
Germany
For extra comparability with different 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).
Based on IFPI information, Germany is the world’s fourth largest recorded music market.
A Spotify spokesperson identified that this determine is considerably decrease than the UK, however annual cost figures in Germany have “quadrupled since 2017” and are rising sooner than the UK, however from a decrease base.
Italy
Spotify stories that by 2023, Italian artists will earn greater than €126 million ($136.36 million)it says, marking greater than 400% This is a rise in comparison with 2017.
Spotify says it is “near 50%In 2023, 1% of all royalties generated by Italian artists on Spotify will come from listeners exterior Italy.
Spotify has confirmed that by 2023, there will likely be greater than 1,200 Italian artist produces greater than 10,000 euros ($10,822) royalties from Spotify. That quantity has greater than tripled since 2017, based on SPOT.
In the meantime, based on Spotify, Italian artists have created greater than 50,000 euros Spotify royalties alone ($54,112) have almost doubled since 2019 and have greater than quadrupled since 2017.
Based on the corporate, whereas Italian music business income total elevated by 18.8% from 2022 to 2023 (based on IFPI), income generated by Italian artists (from Spotify alone) elevated by 20% throughout the identical interval.
Italian artist chargeable for latest 80% One in all Italy’s each day High 50 choices in 2023.
All EUR-USD and GBP-USD conversions on this report are primarily based on annual common trade charges offered by the IRS.
world music enterprise
