Nigerian artists witnessed a remarkable surge in earnings, surpassing N25 billion in Spotify royalties for 2023. Spotify's report highlights the transformative impact of streaming on Nigeria's music industry, showcasing rising stars and genre revolutions.
Spotify, a leading global music streaming platform, announced a groundbreaking milestone, revealing that Nigerian artists earned over N25 billion in royalties in 2023. Jocelyne Muhutu-Remy, Spotify's Managing Director for Sub-Saharan Africa, disclosed this, citing a 2,500 percent increase since 2017.
The surge signifies a seismic shift in the industry's landscape, propelled by the democratizing power of streaming. Muhutu-Remy emphasized the transformative impact on Nigerian artists, with a quadrupling of those earning over N10 million in royalties since 2018. Independent artists and labels received over half of these royalties, underscoring streaming's ability to empower emerging talents.
Spotify's role in amplifying Nigerian voices is evident, with listeners discovering local artists nearly 950 million times in 2023 alone. Moreover, Nigerian artists dominated the country's daily Top 50 chart, owning over 80 percent of the tracks featured. The platform's commitment to supporting African creators is unwavering, as evidenced by ongoing investments to sustain this momentum.
Additionally, Spotify's data unveils a genre revolution in Nigeria, with local genres like Highlife, Igbo Pop, and Fuji experiencing remarkable growth. Notably, Fuji King K1 De Ultimate leads the pack, while Umu Obiligbo and Phyno breathe new life into Highlife and Igbo Pop, respectively. The surge in listenership among Gen Z, coupled with geographical insights, underscores the genre's widespread appeal. Lagos, Port Harcourt, and Katsina emerge as hotspots for streaming local music genres.
As Afrobeats continues to reign supreme, Nigerian music's global influence remains unparalleled, with the top five exported genres showcasing the country's rich musical tapestry.
