Spotify has significantly boosted its royalty payouts to Nigerian and South African artists in 2024, with nearly $59 million distributed as global demand for African music continues to grow. The streaming giant shared the figures on Thursday, highlighting the rising international popularity of music from Africa’s two largest music markets.
According to the report, Nigerian artists earned over 58 billion naira (approximately $38 million) in royalties last year, marking a remarkable increase of more than double the amount they received in 2023. South African artists also saw a substantial rise in earnings, with a 54% increase, amounting to 400 million rand (about $21 million). These figures reflect the expanding global reach and influence of African music, further solidifying the region’s growing presence in the global music industry.
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