These various streaming platforms have experienced astronomical growth as they have become the modus operandi for music consumption. Gone are the days of cassette and record players. Spotify and its cohorts have become a major revenue source for the music industry. Revenue is generated through subscription fees, advertising, and partnerships.
In 2023, Spotify’s ‘Journey of a Billion Stream’reported that Afrobeat artists had generated over N11 billion in revenue in 2022. The company, citing IFPI, reported that the overall Nigerian music revenue grew 63% from 2021 to 2022, while revenues generated by Nigerian artists (from Spotify alone) grew 74%.
All 10 Nigerian artists to have surpassed 1 Billion streams across all credits on Spotify:
#1. Wizkid – 6.3B
#2. Burna Boy – 5.4B
#3. Rema – 3B
#4. CKay – 2B
#5. Tems – 2B
#6. Davido – 1.7B
#7. Mr Eazi – 1.6B
#8. Fireboy – 1.2B
#9. Omah Lay – 1.1B
#10. Ayra Starr – 1B 🆕
