With the Grammy Awards looming, Spotify wants to remind the industry that it has been at the forefront of its renaissance. The streaming audio giant said Tuesday that it paid out $10 billion to the music industry in 2024, a new record high. And it has paid out a collective $60 billion since its founding a decade ago.

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.

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.

Compared to Spotify, Apple Music is one of the better-paying platforms for artists. Here's the payment difference between the streamings.

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.

Subscription music streaming changed the fortunes of the record industry over the past decade. That’s the message from David Kaefer, Spotify’s VP of Music Business, in a blog

Spotify paid $10 billion USD ($16 billion AUD) to the music industry in 2024, the streaming giant said this week. With last year’s total revealed—a new record for Spotify—the company has paid almost $60 billion to the music industry since its founding.