Spotify wants to see 1 billion people paying for streaming music, double the more than 500 million customers who currently subscribe to Spotify and its competitors. In Spotify’s view, artists are lucky to have streaming services,

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.

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.

Audio streaming company Spotify said Tuesday that it paid $10 billion to the music industry last year. The company added that it has given nearly $60

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

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.

Spotify paid out $10 billion to the music industry in 2024 — some $1 billion more than last year, the previous record — making its total around $60 billion since it was founded in 2006. The company made the announcement in a blog post Tuesday morning.

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