SPOTIFY PAID $4.5B TO INDIES IN 2023

Nearly half of the more than $9b Spotify paid to labels and publishers in 2023 went to independent rightsholders, the streaming service has reported.

The indie sector received a record $4.5b last year, a fourfold increase from 2017. Indies made up more than 35% of the overall music business in 2023.

Spotify has a 32% share of the global streaming market, with 236m paying subscribers worldwide. The platform accounts for more than 20% of global recorded-music revenue, up from less than 15% in 2017.

Spotify reports that it has paid the music industry more than $48b since its founding.