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Entertainment of Tuesday, 28 June 2022

Source: legit.ng

Wizkid leads, Davido 5th as 10 top Nigerian music artists earn over N17.94bn selling their music on Spotify

Davido and Wizkid Davido and Wizkid

The Nigerian entertainment industry has now gone fully-fledged digital, with more artists choosing to release their music on big Digital Service providers (DSP)like Spotify.

In April, an infographic from tooxclusiv.com showed the top 10 Nigerian artists surpassed a billion streams on Spotify. Wizkid topped the chart and knocked off other artists with a total of 4.4 billion streams.

Burna Boy followed next with 2.7 billion streams. Mr Eazi found himself in the third spot with 1.3 billion streams and the Love Nwanatiti crooner, Ckay has 1 billion streams.

Davido found himself on the 5th spot with 909 million streams, Maleek Berry is chilling with his 516 million streams. Essence co-star, Tems is number 7 with 412 million streams. Rema overtakes Fireboy with his 356 million streams while Fireboy DML occupies number 9th position with 300 million streams.

African bad gal, Tiwa Savage rounded up the top 10 list with 270 million streams.

How much was earned?

Legit.ng calculations show that the 10 artists made over N17.94 billion or ($42,779,640) from the streams using data from a number of online Spotify royalties calculators, including the Streaming Calculator

However, a report noted that only about 70 per cent of the total revenue goes directly to the artist. The platform itself absorbs the other 30 per cent.

In 2020, a report from Business Insider found that Spotify has paid artists as little as $.0033 per stream, which means that artists would have to have around 250 streams to earn one dollar. It is, however, important to note that the earnings are based on the audience's location and services and do not tell the whole picture on the artist's earnings.

In a 2020 report from music distributor iGroove, reveals that UK listeners pay $0.0049 per stream, whereas listeners from the US pay $0.0035 per stream. iGroove explains: “Spotify keeps 30% of all revenues generated. Of the remaining 70%, a part is paid for the songwriters and composers and the rest goes via label or distribution to the rights holders of the song.

“From the remaining share it’s calculated how many streams there were in total and how high the share of each artist is. Assuming there were one million streams per month and you have achieved 1,000 streams, you will receive 0.01%”

Spotify earnings estimate for Nigerian artist based on Streaming Calculator

Wizkid 4.4 billion N6.42bn ($15,312,000)

Burna Boy 2.7 billion N4.05bn($9,674,400)

Mr. Eazi 1.3 billion N1.94bn(4,628,400)

Ckay 1 billion N1.48bn ($3,549,600)

Davido 909 million N1.32bn($3,163,320)

Maleek Berry 516 million N753.26m($3,549,600)

Tems 412 million N601.4m($1,433,760)

Rema 356 million N519.69m($1,238,880)

Fireboy DML 300 million N437.94m($1,044,000)

Tiwa Savage 270 million N394.15m($939,600)

Statement from Spotify In Spotify, in its 2021 Wrapped report, which is an annual roundup of the top artists, album, songs and playlists of the year as streamed by users on the platform it noted that Nigerians dominated the list.

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