In 2023, independent artists and labels generated $4.5B on Spotify, accounting for 50% of its $9B industry revenue, a 4X increase since 2017.
In 2023, independent artists and labels generated $4.5 billion on Spotify, marking the first year they accounted for 50% of the platform's $9 billion industry revenue. This represents a 4X increase compared to 2017 and highlights streaming's role in leveling the playing field for independent artists. Spotify now accounts for over 20% of global recorded music revenue, up from 15% in 2017.
February 27, 2024
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