Condia Insider: How Nigerian artistes are cashing out on Spotify
- Nigerian artists earned ₦58 billion ($37.5 million) in Spotify royalties in 2024, more than double their 2023 earnings.
- The number of musicians earning over ₦10 million in royalties has more than doubled, indicating a positive trend in artist revenue.
- Over 1,900 Nigerian artists were featured on Spotify's editorial playlists in 2024, a 33% increase from the previous year.
While the growth in royalties and local demand for Nigerian music is encouraging, the disparity between the earnings of Nigerian artists and the overall payouts from streaming platforms highlights the need for better compensation structures. The industry must focus on creating sustainable revenue models that empower artists, especially those outside the top tier, to thrive in a competitive landscape.
