Spotify Paid Over 10 Billion USD to the Music Industry in 2024 – Highest Payout in Industry History

The streaming giant Spotify has not always been profitable in recent years. A large portion of the revenue flows back to rights holders and the music industry as licensing payments. In March of last year, media reported that the company had benefited from layoffs and price increases. Finally, 2024 marked the first year in which Spotify could report a profit.   Highest Payout in the History of the Music Industry On Wednesday, the provider released its annual report on the music economy. In this context, the company pointed out that it...