In a landmark achievement for Nigerian music, royalties generated by Nigerian artists on Spotify have surpassed ₦58 billion in 2024, marking a staggering increase of more than 100% compared to 2023, and a fivefold jump from 2022. This significant milestone is featured in Spotify’s much-anticipated 2024 Loud & Clear report, released today.
The report reveals a dramatic rise in the number of Nigerian artists earning ₦10 million or more in royalties, with the figure more than doubling from 2023 and tripling compared to 2022, highlighting the explosive growth of Nigerian music on the global stage.
Jocelyne Muhutu-Remy, Spotify’s Managing Director for Sub-Saharan Africa, shared her enthusiasm about the sector’s growth, stating;
“We are dedicated to empowering Nigerian artists to earn from their creativity while ensuring transparency for artists and stakeholders. The remarkable growth of Nigerian music, both locally and internationally, is a testament to the incredible talent and innovation within the country, and we are proud to support this continued ascent.”
Key Highlights from Spotify’s 2024 Loud & Clear Report:
- Nigerian artists were discovered by first-time listeners over 1 billion times on Spotify in 2024.
- More than 1,900 Nigerian artists were featured on Spotify editorial playlists—an increase of 33% from 2023.
- A large portion of the ₦58 billion in royalties earned by Nigerian artists came from listeners outside of Nigeria.
The report also highlights the broader cultural impact of Nigerian music:
- Global listeners on average spend over 1.1 million hours streaming Nigerian artists
- Users have created approximately 250 million playlists featuring Nigerian artists worldwide
- Nigerian artists have seen a 49% export growth over the past three years
- Local consumption of Nigerian content has grown 206% year-over-year, with a remarkable 782% increase over the past three years
This unprecedented financial success reflects the dynamic creativity emerging from Nigeria’s music scene and signals Spotify’s ongoing commitment to supporting artistic talent across the region.
