Spotify Reports Record $10 Billion Royalties in 2024

Spotify's 2025 Loud & Clear report reveals significant growth in the music streaming industry, with over 500 million paying subscribers and record payouts that reached $10 billion in 2024. The report highlights increased diversity among artists, noting a surge in female artists earning over $1 million annually, which has quadrupled since 2017. While Spotify emphasizes its commitment to transparency regarding artist earnings, critiques remain regarding the uneven distribution of revenue, with major labels often taking substantial cuts. The competitive landscape in India presents challenges for Spotify as it seeks to convert its large user base into paying subscribers amidst strong local competition and price sensitivity. Despite these hurdles, Spotify has seen substantial user growth in India, with a reported 88 million monthly active users as of January 2025. The report underscores both the successes and ongoing challenges within the evolving global music streaming market.