The global music scene is experiencing a seismic shift, thanks to the meteoric rise of African music genres like Amapiano and Afrobeats. These infectious rhythms, coupled with the immense talent of African artists, have propelled the continent’s music onto the world stage like never before.
According to the 2024 report from the International Federation of the Phonographic Industry (IFPI), Sub-Saharan Africa (SSA) is leading the charge as the fastest-growing region, with revenue skyrocketing by over 20%.
In SSA, the music industry saw a staggering 24.7% surge in overall revenue, largely driven by a substantial increase in paid streaming revenues, which now make up 24.5% of the total. South Africa remains the powerhouse of the region, contributing a whopping 77% of total revenue. This growth is fueled by factors such as increased internet access and the widespread adoption of streaming platforms like Spotify, which have empowered artists to reach global audiences and earn a livelihood from their craft.
Speaking of Spotify, the streaming giant has played a pivotal role in championing South African artists and providing them with a platform to shine. Their annual Loud & Clear report aims to bring transparency to the industry by sharing data on royalty payments and the streaming economy. According to Spotify’s 2024 report on the South African music industry:
– Royalties generated by South African artists from Spotify alone soared to nearly R256 million in 2023, marking a significant increase of nearly 240% increase since 2019 and a more than 500% increase since 2017.
– South African artists were discovered by new listeners over 735 million times on Spotify in 2023.
– The number of South African artists earning over R100,000 in royalties from Spotify has seen a remarkable uptick since 2018.
– Nearly 2,800 South African artists found a spot on Spotify’s editorial playlists in 2023.
Jocelyne Muhutu-Remy, Spotify’s Managing Director for SSA, underscored the platform’s dedication to supporting South African artists and ensuring they can thrive financially from their art.
Amapiano, South Africa’s musical juggernaut, continues its reign with its irresistible beats and viral dance crazes. Spotify’s data unveils a surge in local music consumption in South Africa, with Amapiano tracks garnering significant attention. While the industry remains male-dominated, female artists are making strides, with average streams seeing a 49% increase in 2023.
On a global scale, Spotify’s Loud & Clear report highlights the platform’s profound impact on the music industry, with record-breaking payments to rights holders and substantial growth in streaming revenues. Songwriters, in particular, have reaped the benefits, with Spotify shelling out nearly $4 billion to publishing rights holders over the past two years, driving unprecedented revenues for songwriters worldwide.
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