Audio streaming company Spotify said Tuesday that it paid $10 billion to the music industry last year. The company added that it has given nearly $60

With the Grammy Awards looming, Spotify wants to remind the industry that it has been at the forefront of its renaissance. The streaming audio giant said Tuesday that it paid out $10 billion to the music industry in 2024, a new record high. And it has paid out a collective $60 billion since its founding a decade ago.

Sure, a decent chunk of that did go to the artists—the release states that “well over 10,000 artists generate over $100,000 per year from Spotify alone”—but it seems to suck for most of those beneath the Bad Bunnys and Taylor Swifts of the world.

Spotify paid $10 billion USD ($16 billion AUD) to the music industry in 2024, the streaming giant said this week. With last year’s total revealed—a new record for Spotify—the company has paid almost $60 billion to the music industry since its founding.

In a new open letter, Spotify have revealed they paid out $10 billion to the music industry in 2024 which is a billion more than their previous record fee

While that figure may seem questionable considering how little many musicians make from streaming, it's important to bear in mind that Spotify (like most streaming services) pays

Spotify paid out a record $10 billion to the music industry. This brings it to a total of nearly $60 billion since its inception. Today, the company has more than 500 million paying listeners across all music streaming services.