Spotify said today that it paid out a record $10 billion to the music industry last year, bringing its total payments to over $60 billion.

Spotify announced on Tuesday that it paid out $10 billion to the music industry in 2024, $1 billion more than last year, and $60 billion since 2006.

Music service Spotify says it paid out $10bn to the music industry in 2024, taking its lifetime payments to nearly $60bn.

Currently, Spotify boasts over 10,000 artists earning more than $100,000 annually from the platform. A deeper dive into the figures reveals that 1,250 artists earned over $1 million, while 60 artists surpassed the $10 million mark solely through Spotify in a year.

Sure, a decent chunk of that did go to the artists—the release states that “well over 10,000 artists generate over $100,000 per year from Spotify alone”—but it seems to suck for most of those beneath the Bad Bunnys and Taylor Swifts of the world.

After being accused of paying musicians the lowest rates amongst the big streaming services, Spotify has defended its record.

Just moments after a report indicated that Apple Music pays far better, Spotify is touting the record $10 billion it paid out to the music industry in 2024 – and eyeing a goal of one billion paid subscribers across all on-demand services.