Spotify just revealed its Annual Music Report and the streaming giant just had its best year ever, paying out $10 billion to rights holders with more musicians regularly earning their living through Spotify streams and more music millionaires being created than ever before.

Spotify paid the music industry $10bn (£7.7bn) in 2024, which the streaming service said was the highest annual payment from any single retailer in history. But the figures come as a heated debate continues about how much money artists and songwriters receive in royalties.

Spotify updated its annual Loud and Clear report on Wednesday, confirming that for a second consecutive year, the streaming giant paid out half of its royalties to independent artists. Of the $10 billion Spotify doled out to music rights holders last year,

Spotify said on Wednesday it paid $10 billion in royalties in 2024, the largest payout to the music industry in a single year. Julian Satterthwaite reports. The scientists trying to save the fewer tha