Afrobeats Boom: Nigerian Musicians Earn Record ₦58 Billion from Spotify in 2024

Spotify’s 2024 Loud & Clear report revealed that Nigerian artists collectively earned over ₦58 billion in royalties from the streaming giant throughout the year. This staggering figure, announced in early 2025, marks a dramatic leap from the ₦25 billion recorded in 2023 and a fivefold increase from the ₦11 billion amassed in 2022.

The ₦58 billion payout reflects not only the commercial success of Nigerian artists but also the broadening appeal of their work. According to Spotify, the number of Nigerian artists generating at least ₦10 million in royalties more than doubled since 2023 and tripled compared to 2022, signaling a deepening pool of talent reaping significant financial rewards. 

This growth is largely attributed to the global appetite for Nigerian sounds, with international listeners driving a substantial share of the revenue. In 2024 alone, Nigerian artists were discovered by first-time listeners on Spotify over one billion times a testament to their expanding reach beyond Africa’s borders.

The report also highlights the pivotal role of Spotify’s editorial playlists in amplifying Nigerian talent. More than 1,900 artists from Nigeria were featured on these curated lists in 2024, a 33% increase from the previous year. 

This heightened visibility has translated into unprecedented streaming numbers, with global users spending over 1.1 million hours listening to Nigerian music and creating approximately 250 million playlists featuring tracks from the country’s artists. These metrics paint a picture of an industry not only thriving financially but also cementing its cultural influence worldwide.

While Nigerian music’s export success is undeniable evidenced by a 49% year-over year increase in international streaming its domestic consumption has also skyrocketed. Spotify reported a 206% surge in local streams of Nigerian content in 2024 compared to 2023, with an astonishing 782% growth over the past three years. 

This dual momentum reflects a unique dynamic: Nigerian artists are simultaneously deepening their roots at home while captivating audiences abroad, a balance that has solidified their position as global trendsetters.

Afrobeats, with its infectious rhythms and crossover appeal, remains the cornerstone of this success. Artists like Burna Boy, Wizkid, Davido, and newer stars such as Rema and Tems have become household names far beyond Nigeria, headlining international festivals and collaborating with global icons.