Nigerian Musicians Cash Out Big on Spotify as Songs Hit Billions
Nigerian musicians are experiencing a significant surge in streaming income on platforms like Spotify, thanks to the growing popularity of Afrobeats and Nigerian music worldwide.
The surge has also opened new revenue streams for artists and is transforming the music industry in Nigeria.
One notable example is the award-winning musician Wizkid who is now officially the most streamed artist on Spotify.Based on Spotify’s streaming rate of $0.003 per stream, Wizkid’s 5.5 billion streams on the platform would have earned him a staggering $24 million, equivalent to N11.05 billion at the current exchange rate.
Following closely behind Wizkid is Burna Boy, with 4.3 billion streams, earning him $18.79 million in royalties.
Ckay takes the third spot with 1.69 billion streams, resulting in earnings of $7.38 million.
Other notable artists on the list include Rema, with 1.65 billion streams and earnings of $7.21 million and Mr Eazi, with 1.63 billion streams and revenues of $7.12 million.
Tems, with 1.5 billion streams, earns $6.55 million, while Davido, with 1.2 billion streams, has $5.24 million.
Here is how much they earned in Naira on Spotify
- Wizkid: N11.05 billion
- Burna Boy: N8.58 billion
- Ckay: N3.37 billion
- Rema: N3.3 billion
- Mr. Eazi: N3.25 billion
- Tems: N2.99 billion
- Davido: N2.4 billion
How Spotify revenue works
The figures mentioned above are estimates and may differ from the actual income earned by the artist due to several factors.
Dittomusic has identified certain factors that can affect an artist’s streaming income, including the distribution channels they use, the country of origin of their listeners, and the type of Spotify account their listeners have.
