Spotify releases its annual music economics report: These Canadian artists came out on top
As one of the largest streaming services in the world, Spotify rankings can have a major impact on an artist's career. Its annual Loud & Clear report, which was released on June 4, breaks down the economics behind those numbers, sharing real data about the royalties that artists earn based on their overall streams, as well as how the streaming economy fuels Canada's music industry's growth.
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Based on data from Spotify, 'Canadian artists generated nearly $460 million CAD in royalties from Spotify alone in 2024. Spotify has grown to become not only the largest single source of music royalties worldwide, but also the leading contributor to the music industry in Canada — a critical driver of revenue growth for the country's music creators.'
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Last year, 92 per cent of all royalties generated by Canadian artists on Spotify came from listeners outside of Canada.
Nearly 15M hours of Canadian music are streamed every day around the world
Canadian artists are featured on 2.4 billion user playlists globally, ranking as the third-most featured country in the world.
Québécois artist Patrick Watson's 'Je te laisserai des mots' was the most popular Francophone track on Spotify in 2024. It was also the first French-language track to pass a billion streams.
Over 40 per cent of the Canadian artists who broke the $1M mark in 2024 on Spotify are women, or perform in groups with both male and female members.
Nearly 40 per cent of all royalties generated by Canadian artists on Spotify in 2024 were by independent artists or labels.
Recorded music revenue in Canada grew 129 per cent between 2014 and 2024, from $397M CAD to $909M CAD. Audio streaming now accounts for nearly 79 per cent of total recorded music revenue, with the majority from paid subscriptions like Spotify Premium.
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