With the Grammy Awards looming, Spotify wants to remind the industry that it has been at the forefront of its renaissance. The streaming audio giant said Tuesday that it paid out $10 billion to the music industry in 2024, a new record high. And it has paid out a collective $60 billion since its founding a decade ago.

Sure, a decent chunk of that did go to the artists—the release states that “well over 10,000 artists generate over $100,000 per year from Spotify alone”—but it seems to suck for most of those beneath the Bad Bunnys and Taylor Swifts of the world.

Currently, Spotify boasts over 10,000 artists earning more than $100,000 annually from the platform. A deeper dive into the figures reveals that 1,250 artists earned over $1 million, while 60 artists surpassed the $10 million mark solely through Spotify in a year.

Compared to Spotify, Apple Music is one of the better-paying platforms for artists. Here's the payment difference between the streamings.

Subscription music streaming changed the fortunes of the record industry over the past decade. That’s the message from David Kaefer, Spotify’s VP of Music Business, in a blog

Spotify announced on Tuesday that it paid out $10 billion to the music industry in 2024, $1 billion more than last year, and $60 billion since 2006.

Spotify wants to see 1 billion people paying for streaming music, double the more than 500 million customers who currently subscribe to Spotify and its competitors. In Spotify’s view, artists are lucky to have streaming services,

Just moments after a report indicated that Apple Music pays far better, Spotify is touting the record $10 billion it paid out to the music industry in 2024 – and eyeing a goal of one billion paid subscribers across all on-demand services.