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Spotify Paid Out $10 Billion to the Music Industry in 2024 — $1 Billion More Than Last Year — and $60 Billion Total
Spotify announced on Tuesday that it paid out $10 billion to the music industry in 2024, $1 billion more than last year, and $60 billion since 2006.
In Tuesday’s announcement, Spotify VP of music business David Kaefer notes just how far the industry has come since streaming essentially saved it from a 15-year tailspin of illegal downloading. Fans like the recommendations, the expert editorial curation, and surprise-and-delight moments like AI DJ, daylist, and Wrapped, as well as the access to non-music content… Bringing in users who don’t expect to pay for music, and deepening their engagement, means they’re more inclined to become subscribers in the future.
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