Spotify Reports Major Royalty Growth for African Artists

In 2024, royalties for Nigerian and South African artists on Spotify soared, with Nigerian musicians earning ₦58 billion (approximately $38 million) and South African artists generating R400 million (around $21 million), marking significant year-on-year increases. This growth reflects a larger trend of African music gaining global popularity, particularly genres like afrobeats and amapiano, which have reached over a billion first-time listeners. The International Federation of the Phonographic Industry reported a 22% increase in recorded music revenue across Africa, driven largely by subscription streaming and enhanced access to digital platforms. Spotify noted that the number of Nigerian artists earning over ₦10 million annually has doubled, and South Africa saw a similar rise in earnings among mid-tier musicians. As affordable smartphones and low-cost data bundles help facilitate streaming, the continent's music market is becoming one of the fastest-growing globally. This cultural export is not only benefiting superstars but also allowing emerging talents to thrive financially, indicating a significant shift in the music landscape.