Table of Contents
Key Points
- Spotify’s 2024 royalty payments to Nigerian and South African artists hit $59 million, driven by rising global interest in African music.
- Nigerian artists, led by Davido, Burna Boy, and Wizkid, earned over $38 million in 2024, more than doubling their 2023 royalties.
- African artists’ global playlist presence grew significantly in 2024, with 250 million playlists featuring Nigerian artists and 220 million showcasing South African talent.
Royalty payments to African artists by Swedish streaming giant Spotify hit new heights in 2024, with Nigerian artists leading the charge, outpacing their South African counterparts.
Afrobeats stars like Davido, Burna Boy, and Wizkid continued to dominate the global music scene, drawing millions of streams from listeners worldwide. Together, they contributed to a share of the $10 billion in royalties Spotify paid out globally in 2024.
Spotify’s African royalties surge in 2024
According to a recent report by Reuters, Spotify’s royalty payments to artists from Nigeria and South Africa, its two largest African markets, reached $59 million last year, reflecting a surge in interest in African music. However, this is just a fraction of the global royalty pool, as Spotify disbursed around $10 billion worldwide in 2024.
Interest in African artists soared in 2024, thanks in part to internationally recognized figures like Burna Boy, Davido, and Wizkid. Nigerian artists earned over N58 billion ($38 million) in royalties, more than doubling their earnings from 2023.
South African artists also saw significant growth, with royalties rising to R400 million ($21 million), a 54 percent increase from the previous year. South African singer Tyla was among the top recipients of this payout.
African artists see global playlist growth
As African artists gain more global recognition, Spotify reports that around 250 million user-created playlists now feature at least one Nigerian artist, while 220 million contain a South African.
"What we're seeing is an excellent evolution around more and more mid-tier or up-and-coming artists making a living," said Jocelyne Muhutu-Remy, Spotify's managing director for Sub-Saharan Africa.
Much of the income for African artists on Spotify comes from outside their home markets. Nigerian artists have seen a 49 percent increase in export growth over the past three years, while South African artists have seen an even larger 104 percent growth.
The number of Nigerian artists earning N10 million ($6,500) or more has doubled year-on-year and tripled since 2022. In South Africa, the number of artists earning between R100,000 ($5,250) and R500,000 ($26,200) has also doubled in the past three years.
Artists earn beyond Spotify royalties
Spotify's royalty payouts are increasing, but they still account for only a small portion of what many artists earn. For many musicians, the majority of their income comes from live performances, brand endorsements, YouTube channels, and their own businesses.
For example, Forbes estimated that Nigerian superstar Davido would earn over $20 million in 2023, the first time the magazine had projected such a high income for an African artist.
