Spotify Paid $9 Billion to the Music Industry in 2023

 

Spotify disclosed that it paid the music industry around $9 billion in 2023, nearly tripling over the past six years and contributing to the $48 billion-plus paid since its inception. The details, part of Spotify's annual Loud & Clear report, will be revealed in the coming weeks. The streaming giant emphasized its commitment to contributing to the industry, mentioning that it pays nearly 70% of every dollar generated from music back to rights holders, including record labels, publishers, and performance rights organizations. Spotify recently reported gaining 28 million monthly active users in Q4 2023, reaching a total of 602 million, with 10 million premium subscribers.

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