Music has always transcended borders, and in 2024, it is more multilingual than ever before. According to Spotify’s latest Loud and Clear report, artists generating at least $1 million on the platform recorded music in 17 different languages—a number that has more than doubled since 2017. Meanwhile, those earning at least $100,000 created songs in over 50 languages, highlighting the global expansion of music consumption.
Spotify’s 2024 report paints a clear picture of an industry that is not only thriving but evolving. The streaming giant has paid nearly $4.5 billion to publishing rights holders over the past two years, reaching new peaks in payouts and solidifying streaming’s role as the leading revenue driver for songwriters.
New Music Millionaires and Streaming Success
The rise of independent artists and new-generation musicians continues, with nearly 1,500 artists earning over $1 million in royalties from Spotify alone in 2024. When considering all recorded revenue sources, these artists likely generated over $4 million. Surprisingly, 80% of these high earners did not have a track reach the Spotify Global Daily Top 50 chart last year, proving that massive streaming success doesn’t always require a viral hit. Instead, as Spotify notes, “Success in the streaming era doesn’t require a chart-topping hit or a decade-spanning catalog—it’s about building a loyal fanbase that keeps coming back.”
Another key insight is that the majority of these million-dollar artists launched their careers in 2010 or later, reinforcing the notion that new artists can carve out successful careers in the streaming age. Additionally, over 80% of them were actively touring with at least one ticketed event in 2024, demonstrating the interconnectedness of streaming and live performances.
Global Reach and The Export Factor
One of the most notable findings from the report is the global nature of artist revenue. More than half of the artists who generated over $1,000 in royalties on Spotify earned the majority of their income from international listeners.
Spotify reveals that “almost one-third of these artists generated more than 75% of their royalties from listeners outside their home countries.” Furthermore, international collaborations have proven to be a key revenue driver, with over half of all artists earning $1,000+ collaborating with at least one artist from another country. For those earning $100,000 or more, that number jumps to over 80%.
The Indie Boom: A Billion-Dollar Industry
Independent artists and labels continue to flourish, collectively earning over $5 billion from Spotify in 2024, representing about half of the total royalties paid by the platform. This growth reflects a shift in power dynamics within the music industry, with indie artists increasingly able to build sustainable careers without major-label backing. Spotify’s impact on independent artists is particularly significant, as it accounts for over 50% of Indies’ streaming revenue, a much higher proportion compared to major-label artists.
Spotify’s Expanding Role in the Music Industry
Since its launch, Spotify has paid nearly $60 billion to the music industry, encompassing both recording and publishing royalties. In 2024, the platform accounted for nearly a quarter of all global recorded music revenue—up from less than 15% in 2017. However, as the report notes, “These figures only represent part of the picture,” since revenue also comes from physical sales, touring, merchandise, and synchronization deals. By multiplying Spotify’s revenue by four, one can roughly estimate an artist’s total recorded music earnings across all sources.
