As the music industry in Nigeria experiences impressive growth, everything seems to be converging towards the advent of a new era for local artists, propelled by the rise of music streaming. With a population of around 230 million inhabitants and a rich music scene brimming with talent, Nigeria is positioned as a major player in the African music scene, driven by the success of the Afrobeats movement which is conquering ears around the world.
Music streaming has truly revolutionized the way artists communicate with their audiences and earn revenue from their work. Platforms such as Spotify have opened up new avenues by allowing artists to reach international audiences and benefit financially from their art. As part of its annual Loud & Clear report, Spotify has revealed illuminating data on the revenue generated by Nigerian artists on its platform.
The figures presented in the report speak for themselves. Royalties received by Nigerian artists on Spotify have exceeded 25 billion Naira in 2023, doubling from the previous year. This phenomenal growth represents a 2,500% increase since 2017, highlighting the meteoric rise of music streaming in the country. Additionally, the number of Nigerian artists earning over N10 million in royalties has quadrupled since 2018, demonstrating the positive impact of this new economy on the local music scene.
It is also interesting to note that more than half of these royalties benefited independent artists or labels, highlighting the democratic power of music streaming. Figures revealed by Spotify show that listeners discovered Nigerian artists almost 950 million times in 2023, highlighting the appeal and growing popularity of Nigerian music internationally.
Faced with this positive dynamic, Jocelyne Muhutu-Remy, Managing Director of Spotify for Sub-Saharan Africa, expressed her pride in the remarkable growth in revenues of Nigerian artists on the platform. She highlighted the talent, creativity and global reach of local artists, while affirming Spotify’s commitment to supporting African creators so that they can make a living from their art. This desire to invest in African artists aims to perpetuate this upward dynamic and strengthen the musical revolution underway in Nigeria.
This success story of Nigerian music, powered by music streaming, testifies to the emergence of a new generation of talented and ambitious artists, ready to conquer the world with their music. These impressive figures reflect not only the vitality of the Nigerian music scene, but also the immense potential that music streaming offers to radically transform the music industry in Africa and around the world.