Spotify Generated $4.5 Billion for Independent Artists and Labels in 2023
variety.comJem Aswad Executive Editor, Music Following on the news that the music industry generated some $9 billion on Spotify in 2023, the streaming giant has revealed that half of that total went to independent labels and artists — $4.5 billion.
Streaming has leveled the playing field in many ways since it became the main platform for music around a decade ago, and the fact that independent artists — which Spotify defines as artists signed to a non-major labels or self-releasing — now account for half of that total, for the first time, is evidence.
With some 236 million paying subscribers, Spotify remains by far the world’s largest paid music-streaming service, with the U.S.
its biggest territory. It is important to note that how much of that money reaches artists is determined by the rights-holders — which are usually labels and music publishers — not Spotify.
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