The Biggest Takeaways From Spotify’s Annual Music Economics Report

At Spotify, we believe that artists deserve clarity when it comes to the economics of music streaming—that’s why we publish data showing our impact on the industry every year. That information lives on Loud & Clear, our resource for artists and industry professionals that breaks down the global streaming economy, the players, and the process.

We unveiled new and updated information and data on Loud & Clear, including figures from 2023 that show further meaningful progress toward a more diverse and level music industry. The big picture? Streaming has continued to create more room for more artists to find success, demonstrating real change across the business.

The latest data shows that the industry is less top-heavy than ever, with more artists having a true seat at the table and the ability to make money from their art. Last year Spotify raised the bar, recording the highest annual payment to the music industry from any single retailer. And for the first year ever, the catalog of DIY artists and artists signed to independent record labels accounted for about half of what the entire industry generated on Spotify in 2023.

Here are the highlights from our annual music economics report.

These payouts have resulted in record revenues and growth for rights holders on behalf of artists and songwriters.

More Money at Every Level

Spotify royalties are powering artists’ careers at all stages. And these figures only represent revenue generated from Spotify. Artists likely generated 4x this revenue from recorded music sources overall, plus additional revenue from concert tickets and merch.

A Record Year for Indies

In fact, this is the highest amount indies have ever generated from a single retailer in one year and represents a 4x increase since 2017.

The Unexpected Millionaires

In the streaming era, the charts aren’t big enough to showcase all the artists who are finding success. Fans’ tastes are more diverse, and a bigger royalty pool means more revenue for a wider range of artists.

Artist Career Growth

Careers don’t just begin on Spotify, they grow on Spotify. We remain committed to helping emerging and professional artists make a sustained living off their work year after year.

For more of our top findings, as well as context from the industry at large, additional reports, and FAQs, head to Loud & Clear.