During the course of 2022, Nigerian music artists managed to accrue an impressive revenue exceeding 11 billion NGN exclusively through their presence on the Spotify platform. The broader Nigerian music industry demonstrated a noteworthy growth of 63% between the years 2021 and 2022 (as confirmed by IFPI). Notably, the revenues attributed to Nigerian musicians solely from Spotify saw a remarkable surge of 74% over this same time span.
The burgeoning popularity of Afrobeats owes its upward trajectory to a blend of influential factors including transnational collaborations, the commanding influence of social media, the increasing prominence of music streaming, and the expansive African diaspora. Research commissioned by Spotify through Kuvora found that a substantial 28% of fans attribute the flourishing of Afrobeats to the impact of international collaborations.
The advent of music streaming has induced a significant shift towards democratization within the music industry. Spotify remains resolute in its pledge to ensure equitable compensation for African creators, enabling them to derive rightful earnings from their artistic pursuits. By facilitating exposure to an extensive user base of 550 million active individuals, the platform effectively cultivates new audiences and amplifies streaming figures for artists.
Over the preceding year, the count of Nigerian artists earning royalties surpassing 5 million NGN and 10 million NGN exclusively from Spotify witnessed a commendable rise of nearly 25%. This data exclusively pertains to earnings generated via Spotify and does not encompass proceeds from alternative services, recorded revenue channels, ticket sales for live performances, or merchandise sales.
Jocelyne Muhutu-Remy, serving as Spotify’s Managing Director for Sub Saharan Africa, accentuates the company’s unwavering commitment: “At Spotify, our core commitment revolves around ensuring that professional musicians can sustain themselves through their creative endeavors. By transparently divulging the revenues generated by Nigerian artists in 2022 on our platform, we remain accountable and steadfast in our mission to empower artists to derive a viable livelihood from their artistic expressions.”