Wizkid and Davido are among the Nigerian music stars who earned over ₦25bn as royalties from Spotify in 2023.
This development was disclosed in a statement released by Jocelyne Muhutu-Remy, Spotify’s Managing Director for Sub-Saharan Africa she also noted that it’s a substantial increase from previous years.
Muhutu-Remy stated that the amount doubled what was recorded in 2022, with a 2,500 percent increase since 2017.
She revealed that the details were disclosed in Spotify’s most recent yearly report, “Loud & Clear,” to increase transparency within the music sector through sharing information on royalty payments and explaining the worldwide streaming market.
The report also uncovered an increase in the number of Nigerian musicians making more than N10m in royalties since 2018, showcasing the empowering influence of streaming services such as Spotify.
She stated that more than half of these royalties were distributed to independent artists or labels, underscoring the platform’s commitment to supporting diverse talents.
It is important to note that Spotify is one of many music streaming services that generate revenue for the music industry. The artists also earn revenue from other platforms such as YouTube Music, Apple Music, and Amazon Music, among others.
Listernship Pattern In Nigeria
In regards to the number of people tuning in, Muhutu-Remy stated that Nigerian musicians received nearly 950 million acknowledgments from Spotify users in 2023. It is worth noting that more than 80 percent of the songs featured on Nigeria’s daily top 50 charts were created by local talents.
Furthermore, Spotify’s curated playlists embraced the presence of over 1,400 Nigerian artists in 2023, thereby expanding their impact and influence on a global scale.
Spotify listeners discovered Nigerian artistes nearly 950 million times in 2023 and Nigerian artistes own over 80 percent of the tracks featured on Nigeria’s daily top 50 chart in 2023
Over 1,400 Nigerian artists were added to Spotify’s editorial playlists in 2023
The significant growth in royalties earned by Nigerian artists on our platform is a powerful testament to their talent, creativity, and global appeal. We are proud to amplify their voices and fuel the Nigerian music revolution.
As a leader in the streaming economy, we are committed to supporting African creators to make a living from their art and we’ll continue to invest further in African artists to ensure this momentum continues,” she said
Muhutu-Remy who is passionate about working on a mission to amplify African voices added that while Afrobeats remains the king, Nigeria’s music scene is experiencing a genre revolution as Spotify data reveals increased popularity across local genres.
According to her homegrown genres like Highlife, Igbo Pop, and Fuji experienced spikes in listenership in the last year, with an increasing range from 187 to 303 percent. It added that top artists like K1 De Ultimate and Umu Obiligbo are leading the charge in these genres, with tracks like “Koloba Koloba” and “Nwanem Ebezina” resonating strongly with audiences.
Interestingly, while men constitute the majority of listeners for local genres like Fuji, Highlife, and Igbo Pop, Gen Z emerged as the primary demographic across all three, comprising up to 46 percent of Igbo Pop listeners.
For top tracks, Fuji gets a fresh spin with Adewale Ayuba’s Koloba Koloba, Highlife goes nostalgic with Chief Osita Osadebe’s Nwanem Ebezina and Igbo Pop gets a vibrant boost with KCee’s Ojapiano
Men dominate listeners of local music genres like Fuji (85 percent), Highlife (89 percent), and Igbo Pop (81 percent)
However, Gen Z, aged 18 to 24 is the leading age group across all three genres, making up 32 percent of Fuji listeners, 31 percent of Highlife listeners, and 46 percent of Igbo Pop listeners
cities like Lagos, Port Harcourt, and Katsina all top the charts for streaming these local genres – Fuji, Highlife, and Igbo Pop.
The top 5 exported music genres from Nigeria are Afrobeats, Nigerian Pop, Afropop, Nigerian Hip Hop, and Afro Rhymes and Blues, she said.
The African Streaming Revolution
Africa’s music industry has been experiencing steady growth, thanks to advancements in technology that enable artists to connect with audiences worldwide and profit from their talents.
According to the 2024 International Federation of the Phonographic Industry (IFPI) report, the Sub-Saharan Africa market boasts the world’s fastest-music growing revenue with a staggering 24.7% growth increase.
The increase in revenue is being driven by a rise in paid streaming services, which account for 24.5% of the total revenue. It is worth mentioning that the report highlights Sub-Saharan Africa as the sole region experiencing growth exceeding 20%.
There was a positive story of growth across the globe; every region had healthy revenue growth in 2023 and five regions posted double-digit percentage gains. Sub-Saharan Africa remained the fastest-growing area; IFPI stated in the report.
