Spotify just revealed its Annual Music Report and the streaming giant just had its best year ever, paying out $10 billion to rights holders with more musicians regularly earning their living through Spotify streams and more music millionaires being created than ever before.

STORY: Spotify says it paid a record $10 billion in royalties to artists in 2024.The streaming giant said that was the largest ever payout to the music industry in a single year. Of that total, nearly 1,

Spotify paid the music industry $10bn (£7.7bn) in 2024, which the streaming service said was the highest annual payment from any single retailer in history. But the figures come as a heated debate continues about how much money artists and songwriters receive in royalties.

Spotify said on Wednesday it paid $10 billion in royalties in 2024, the largest payout to the music industry in a single year. Nearly 1,500 artists earned over $1 million in royalties from Spotify last year,

Spotify (NYSE:SPOT) said it paid $10B in royalties last year, the biggest single-year payout by a company in the history of the music industry, with its yearly payouts to the industry increasing tenfold over the past decade.