Spotify also claims that it pays nearly 70% of every dollar it generates from music back to the industry.Īccording to the report, 57 000 artists generated over $10 000 on the platform in 2022, up from 23 400 in 2017, and 1 060 artists generated more than $1 million, up from 460 in 2017. The report highlights the success of artists on the platform, with the number of artists generating $1m or more and those generating $10 000 or more doubling over the past five years. The revelation was made when the streaming service hosted its second Stream On event in Los Angeles, USA, where the company announced updates and new tools for artists.
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