Spotify says it paid nearly 1,500 artists $1 million or more in royalties for 2024 streams

Core Insights - Spotify has created significant financial opportunities for artists, with nearly 1,500 artists earning over $1 million in royalties in 2024 [1] - The report highlights that over 80$10 billion in royalties paid to the music industry for the year, marking its first full year of profitability [2] Industry Impact - The findings suggest that Spotify is democratizing access to revenue for artists at various stages of their careers, as success no longer relies solely on having a long catalog or chart-topping hits [2] - The annual Loud and Clear Report emphasizes the changing landscape of the music industry, where streaming platforms play a crucial role in artist revenue generation [2]