Nigerian Artists Rake In ₦58 Billion From Spotify In 2024

Nigerian music is swimming in cash, with artists pulling in over ₦58 billion ($37.2 million) in Spotify royalties in 2024—more than double last year’s take and five times what they made in 2022. This seismic payout, dropped in Spotify’s 2024 Loud & Clear report today, screams one thing: Afrobeats isn’t just ruling the airwaves—it’s rewriting the music money playbook.

According to the Spotify Loud & Clear Report based on 2024 full-year data, that ₦58 billion is a 132% jump from 2023’s ₦25 billion and a 417% explosion from 2022’s ₦11 billion. The wealth’s spreading, too—the number of Nigerian artists banking ₦10 million or more in royalties has doubled since last year and tripled since 2022. From Lagos to the global stage, this is a scene cashing checks at every level.

Spotify’s Sub-Saharan Africa MD, Jocelyne Muhutu-Remy, laid it out: “We remain committed to empowering Nigerian artists to earn from their art whilst maintaining transparency with artists and stakeholders.” Transparency is the name of the game here, and it’s shining a spotlight on Nigeria’s sonic goldmine.

READ MORE: Here Are 3 Proven Strategies Afrobeats Music Executives Should Try In 2025

The numbers are a vibe:

• Over 1 billion first-time listeners tuned into Nigerian artists in 2024—new ears, new money.
• Spotify’s editorial playlists scooped up 1,900 Nigerian acts, a 33% bump from 2023, amplifying the next wave.
• A hefty chunk of that ₦58 billion rolled in from international fans, with export streams up 49% over three years. Nigeria’s sound is a worldwide hustle.

Back home, the beat’s picking up fast. Local streams of Nigerian tracks spiked 206% year-over-year, with a wild 782% surge since 2021. Sure, shaky Wi-Fi and slim wallets cap the domestic game, but the growth is unreal.

Nigeria’s cultural flex is undeniable. Global fans racked up 1.1 million hours streaming Nigerian artists, while 250 million user playlists worldwide bumped Naija cuts. Burna Boy’s fire, Tems’ soul, Wizkid’s groove—it’s the soundtrack to a planet hooked on Afrobeats. That 49% export growth over three years says it all: this isn’t a trend, it’s a takeover.

That ₦58 billion slots into Spotify’s $10 billion global royalty payout for 2024, and it’s a key piece of Sub-Saharan Africa’s 24.7% market boom in 2023 (IFPI numbers). Nigeria’s driving the bus, tapping Spotify’s 550 million users to flip old-school music biz on its head. No middlemen, just streams straight to the bank.

For Nigerian artists, this is proof—grind meets platform, and the payout’s real. For the industry, it’s a flashing neon sign: bet on Nigeria. With ₦58 billion in the bag and local streaming still revving up, the sky’s not even the limit. Afrobeats is in its money-making prime, and I’m calling it: this is just the warm-up.