On Spotify in 2021, only 12% of US streams were of the top 50 artists – meaning that revenue opportunities now reach far beyond the superstars.”Īt the business end of town, Spotify noted that major record labels earned over $4 billion in profit in 2021, which was “driven by streaming”. “In the peak of the CD era, nearly 25% of US album sales were accounted for by the top 50 artists. “More artists are sharing in today’s thriving music economy than ever before,” it said. “In 2021, 450 artists generated more than $2 million on Spotify – an increase of 100% in five years – and 130 artists generated over $5 million – an increase of 160% in the same period.”ĭespite the limited number of artists on Spotify’s top tier, it said the industry during the height of the CD era favoured ‘superstars’ twice as much as now.
“New to the site in 2021, since so many artists have far surpassed the $1 million level, we’ve added $2 million and $5 million data to our site. “When artists hit new heights, it’s time to launch additional milestones,” it said. Spotify said it believes these figures will only increase, and has introduced new metrics to reflect this. Back in 2017, just 460 artists generated over $1 million from the streaming giant. This was up over 20% from 2020’s 860 artists. In 2021, 350 of them generated $100,000 from Spotify alone.”Ĭlimbing further up the earning scale, 1,040 artists generated over $1 million on Spotify in 2021.
“Over 10% of artists (5,300) who generated more than $10,000 on Spotify in 2021 released their first song ever in the last two years. “Streaming has lowered the barriers to entry to music and accelerated the path to finding a global fan base – meaning artists can go from first single to first significant pay cheque fast,” it said. Plus, 34% of the artists who generated more than $10,000 on Spotify live in countries outside the top 10 music markets. Spotify said streaming has enabled individual artists to go from ‘zero to career’ faster than any time in history, and noted that over 28% of the 50,000-odd artists who generated over $10,000 from Spotify self-distribute on the platform. Indeed streaming revenue alone in 2021 exceeded total industry revenue in each year from 2009 to 2016, highlighting the massive jump in recent years. The figures show that in 2021, Spotify paid US$7 billion to the music industry, setting the record for the highest annual payment for any single retailer in history. The #JusticeAtSpotify protests called on Spotify to adopt a user-centric payment model and show more transparency by making all closed-door contracts public.Īt the time of Loud & Clear’s launch, Spotify declined to comment on the movement, but noted the data-heavy platform had been in the works for some time, regardless of the negative sentiment in the market.Īnd now, one year on, it’s released more figures “showing further meaningful progress towards a more healthy and diverse music industry”. The Loud & Clear platform launched last year as the #JusticeAtSpotify movement was ramping up.
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