How much did Spotify pay the music industry last year?

Spotify paid over $11 billion to the music industry in the past year.

What percentage of Spotify's revenue goes to music payouts?

Spotify pays out two-thirds of all music revenue to the industry, almost 70% of what it takes in.

How many monthly active users does Spotify have?

Spotify had 713 million monthly active users at the end of the third quarter.

Home / Business and Economy / Spotify Pays Record $11 Billion to Music Industry

Spotify Pays Record $11 Billion to Music Industry

28 Jan

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Summary

Spotify paid over $11 billion to the music industry last year.
This represents the largest annual payment from a retailer in history.
Payouts grew over 10% from the previous year, with independents getting half.

Spotify Pays Record $11 Billion to Music Industry

In the past year, Spotify distributed over $11 billion to the music industry, setting a historical record for annual payouts by a music retailer. This significant sum reflects more than a 10% increase compared to the previous year's disbursements.

Independent artists and labels were major beneficiaries, collectively receiving half of all royalties. Spotify reinvests its share of revenue into developing diverse content, including podcasts, videos, and audiobooks.

The company recently adjusted premium subscription prices in several markets. This move aims to bolster profits and leverage its substantial user base, which stood at 713 million monthly active users by the end of the third quarter.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.