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Colombian Artists Streaming Success: Spotify Pays Out Millions in 2024
Bogotá, Colombia – Streaming platforms continue to reshape the music industry, and new figures reveal a significant win for Colombian artists. Spotify’s latest “Loud & Clear” report indicates that Colombian artists generated approximately $98 million (400,000 million pesos) on the platform during 2024. This surge in revenue highlights the growing global appeal of Colombian music,driven largely by the popularity of Spanish-language tracks.
spotify’s Impact on Colombian Music
manuela Echeverry, Head Of Relations With Artists And Record Labels For The Andean Region At Spotify, emphasized that 98% of this revenue stems from songs made in Spanish. This underscores the importance of local language content in driving success on global streaming services. The “Loud & Clear” report, initiated in 2021, aims to provide clarity into how royalty payments function within the music ecosystem.
Spotify stands out as the only major multimedia service that publishes such a report annually. “our model seeks to listen to music is easy and fair,” Echeverry stated, “With ‘Loud & Clear’ we show how streaming generates income and opens real opportunities for thousands of artists.” The 2024 figures represent a doubling of income for Colombian artists compared to 2021, showcasing notable growth.
the International Fonographic Industry federation (IFPI) reports that multimedia services now account for 78.6% of the total income of recorded music, illustrating the dominance of streaming in the modern music landscape.
Colombian Music Goes Global
The global reach of Colombian artists has expanded dramatically. According to Echeverry, international streams of content created by Colombian artists have increased over 70-fold in the last decade. This translates to over nine million hours of Colombian singers being listened to worldwide.
Furthermore,colombian artists are increasingly dominating the domestic charts. Up to 60% of the songs included in Spotify’s top 50 for Colombia in 2024 were from national artists, doubling the figures from 2020.
Notably, the number of Colombian artists earning more than 50 million Colombian pesos (approximately $12,000) per year on Spotify has grown 11 times since 2019. This demonstrates how streaming is creating viable career paths for a growing number of musicians.
Colombian singer Susana Cala noted, “Music is a possibility for people because they are more tangible.Multimedia services have managed to receive feedback, which I can upload a song to Spotify and listened to someone anywhere in the world.”
Global Trends in Music Streaming
spotify’s influence extends far beyond Colombia. In 2024,Spotify contributed $10 billion to global music recordings. This figure is not only ten times greater than what was paid in 2014, but also surpasses the contribution of the world’s largest record store during the CD boom, according to company executives.
Echeverry attributes this growth to the increased accessibility of music and a greater willingness among listeners to pay for subscriptions. There are now more than 500 million listeners worldwide who pay for subscriptions to multimedia services.
Founded in 2008, Spotify emerged as a response to the piracy crisis that plagued the music industry. The platform currently boasts 678 million users globally,with 22% located in Latin America.
Key Streaming Statistics
| Metric | 2024 Value | Change As 2014/2019 |
|---|---|---|
| Revenue for Colombian Artists on Spotify | $98 Million | doubled since 2021 |
| Global Contribution to Music recordings by Spotify | $10 Billion | 10x greater than 2014 |
| Growth in Colombian Artists Earning $12,000+ on Spotify | N/A | 11x since 2019 |
| Spotify Global Users | 678 Million | N/A |
Did you Know? Spotify’s “Loud & Clear” report is the only one of its kind published annually by a major streaming platform, offering insights into music industry economics.
What impact do you think streaming platforms have had on the diversity of music available to listeners? How do you discover new music?
The Evolution Of Music Consumption
The rise of streaming services like Spotify has revolutionized how people consume music. The shift from physical media (cds, vinyl) to digital platforms has increased accessibility and convenience, allowing listeners to discover new artists and genres more easily
