Report Overview

Spotify in 2022: Update on artists and royalties


Executive summary

Streaming had a strong 2021

Spotify’s subscribers drive revenue

Spotify’s share price has declined almost 70% since its peak in early 2021

Total users jumped from 345 million in 2020 to 406 million in 2021 thanks to developing markets

International streaming of Latin music has exploded in recent years with artist Bad Bunny recording a record 8.3bn streams in 2020

The share of Premium Subscribers in developing markets has not seen the uplift that it has in European and North American markets

While Spotify’s subscription tier drives revenue, ARPU for the ad-tier has gained ground

Listening hours exceeded 110 billion hours for the first time in 2021

Spotify’s payouts are mainly paid not to artists directly; but rather to rights holders

Spotify’s industry payouts climbed by $2bn dollars last year; YouTube is not far behind

Over 50,000 artists now generate $10,000 or more from Spotify

Pandemic-induced usage fostered a huge increase in the number of artists earning over $1,000

Established artists continue to generate the strongest revenues

Over 28% of artists who generated more than $10,000 self-distribute to Spotify

Self-distributing artists have almost trebled since 2017

66% of artists generating more than $10,000 from Spotify came from the top 10 music markets

About half of tracks on Spotify generated under a dollar in revenue in 2021

Appendix: Spotify Loud & Clear definitional changes



Figures and Tables

Global recorded music industry trade revenues by source ($bn)

Spotify revenue by tier (€m)

Spotify’s daily closing share price ($)

Monthly active users by region (m)

Share of Latin American artists in Spotify’s global 200 list at any given time

Share of Premium Subscribers of total MAUs by region

Spotify ARPU by tier (€)

Annual listening on Spotify

Total revenue that Spotify has paid out to rights holders ($bn)

Artists generating over $10,000 and $1 million a year from Spotify

Growth of artists’ earnings by segment

Industry revenues generated by different artist categories, 2021 ($bn)

Proportion of artists generating over $10,000 distributing through labels & self-distributing 2021

Proportion of artists generating over $10,000 distributing through labels & self-distributing (2017 & 2021)

Artists from different markets earning over $10,000 in 2021

Number of tracks generating over & under $1 in revenue from Spotify in 2021 (m)

Methodology changes from Spotify Loud & Clear 2020 to 2021