Nigerian music has reached a groundbreaking financial achievement, with artists earning a staggering ₦58 billion in royalties from Spotify in 2024. This incredible sum is not just a number, it represents the explosive growth and global reach of Nigerian music, making waves on an international platform.

When you compare this figure to the previous years, it becomes even more impressive. In 2023, Nigerian artists earned just over half that amount, and in 2022, the figure was five times smaller. This shows a pattern of rapid growth that highlights how Nigerian artists are increasingly dominating the global music scene.

Spotify’s 2024 Loud & Clear report showcases how much the platform has contributed to this success. It reveals that Spotify has now paid out a total of 10 billion USD in royalties, marking a 100% increase over the last decade. 

In this context, Nigerian artists are not only benefiting from local popularity but also from the worldwide exposure that platforms like Spotify provide.

More Nigerian artists are now seeing substantial earnings from Spotify. According to the report, the number of Nigerian artists earning at least ₦10 million in royalties has more than doubled since 2023. This rise reflects the international success of Nigerian music, which continues to grow at an accelerated pace.

Jocelyne Muhutu-Remy, the Managing Director for Spotify Sub-Saharan Africa, emphasized Spotify’s role in empowering Nigerian artists. “We remain committed to empowering Nigerian artists to earn from their art while maintaining transparency with artists and stakeholders,” she said. 

She also pointed out that the immense growth of Nigerian music, both locally and globally, showcases the country’s exceptional talent and creativity.

Key points from the 2024 report provide even more insight into Nigerian music’s global success:

  • Nigerian Artists’ Global Discovery: Nigerian artists were discovered by first-time listeners over 1 billion times on Spotify in 2024, showing how far their music has spread worldwide.
  • More Artists in Editorial Playlists: Over 1,900 Nigerian artists were added to Spotify’s editorial playlists in 2024, which is a 33% increase from 2023. This increased exposure on the platform helps them reach new audiences.
  • Global Influence: A large portion of the ₦58 billion earned by Nigerian artists came from listeners outside of Nigeria. This highlights the global appeal of Nigerian music and its impact across borders.

The report also underlines some broader trends in Nigerian music’s cultural influence. Global listeners now spend over 1.1 million hours streaming Nigerian artists, and Nigerian artists are featured in approximately 250 million playlists worldwide. This growing international audience is a testament to the cultural power and appeal of Nigerian music.

Within Nigeria, consumption of local music content has surged by 206% year-over-year, and in the past three years, there’s been a 782% increase in local consumption. This surge is a clear sign that Nigerian music is not only thriving internationally but also dominating the local scene in unprecedented ways.

As Nigerian artists continue to earn more and reach global audiences, there’s still room for growth. Nigeria’s internet infrastructure and economy must keep pace to ensure that this booming music industry can continue to flourish, with even more opportunities for local artists to benefit from global streaming platforms like Spotify.

In the coming years, it’s likely we’ll see even greater financial milestones and international recognition for Nigerian artists. For now, though, the ₦58 billion in royalties from Spotify in 2024 marks a significant achievement and a clear signal of the immense global potential of Nigerian music.