The music-streaming giant has long been the target of criticism from artists about paltry payments, but said it doled out record royalties last year.

Spotify said on Wednesday it paid $10 billion in royalties in 2024, the largest payout to the music industry in a single year.

Spotify on Wednesday released further details about its record $10 billion US in royalties in 2024 in its Loud & Clear report. The report comes amid the ongoing debate about how much money artists and songwriters actually receive in royalties and whether it is actually fair.

Spotify announced earlier this year that it paid out a record $10 billion-plus to the music industry in 2024, bringing its total to nearly $60 billion since its inception in 2006. The company - the world’s largest paid music-subscription service by a wide margin - maintains that it pays out 70% of every dollar it

It's no secret that Spotify isn't a big money maker for most artists. But, in its annual Loud & Clear report, the music streamer is trying to change the narrative, reiterating an earlier claim that it paid artists $10 billion in 2024 ($60 million since launching) and adding that these payments increased tenfold over the last 10 years.

Taylor Swift’s earlier concerns about streaming royalties take a turn as Spotify announces record-breaking payouts

Spotify has released its Loud & Clear breakdown for 2024, when 1,450 artists are said to have generated (but not necessarily pocketed) over $1 million in combined recording and publishing royalties from on-platform streams.