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Spotify says it paid $10 billion in royalties in 2024
Published by Global Banking & Finance Review®
Posted on March 12, 2025
1 min readLast updated: January 24, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on March 12, 2025
1 min readLast updated: January 24, 2026
Spotify paid $10 billion in royalties in 2024, marking its largest payout. A lawsuit over underpaid royalties was dismissed.
(Reuters) - 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, the Swedish streaming giant said.
Spotify said its yearly payout to the music industry had risen 10 times from $1 billion in 2014.
Spotify was hit with a lawsuit in U.S. that accused the company of underpaying songwriting royalties for tens of millions of songs last year. A federal judge in New York ruled to dismiss that suit this year.
(Reporting by Gnaneshwar Rajan in Bengaluru; Editing by Mrigank Dhaniwala)
Spotify reported that it paid $10 billion in royalties in 2024, marking 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's yearly payout to the music industry has increased significantly, rising tenfold from $1 billion in 2014.
Spotify was hit with a lawsuit in the U.S. accusing the company of underpaying songwriting royalties for tens of millions of songs, but a federal judge dismissed that suit.
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