In latest weeks, Spotify has been progressively releasing country-level information as a part of its annual Loud & Clear music economics report, an initiative that it says makes it “the one streaming supplier to share information on artist remuneration.”
To be clear, that information is mixture solely (Spotify received’t inform you how a lot Unhealthy Bunny earned within the UK final yr, for instance), and the info it supplies isn’t all the time constant – it supplies one set of metrics for one nation, and one other set of metrics for one more. Typically these metrics overlap, permitting for country-to-country comparisons, and generally they don’t.
Nonetheless, the Loud & Clear information do give us an perception into the dynamics of assorted digital music markets that these of us who aren’t aware of the confidential information analyses of streaming companies haven’t had earlier than.
In its newest launch – and apparently its final national-level launch for the yr – Spotify has unveiled numbers on music streaming in Spain.
One quantity jumps out: In 2023, the royalties generated by Spanish artists on Spotify exceeded EUR €123 million (USD $133 million on the common alternate charge for 2023). That’s nearly quadruple the royalties generated by Spanish artists again in 2017.
One factor to notice about these numbers is that they’re particularly royalties generated on Spotify, and provided that Spotify has quickly grown its subscriber base over these years, the large enhance in royalties generated by Spanish artists is a minimum of as a lot a mirrored image of Spotify’s progress as it’s of the Spanish music market’s progress.
Nonetheless, Spain noticed stable progress in its music trade in 2023, with revenues up 15% YoY in keeping with information from Spanish trade group PROMUSICAE. Spotify royalties from Spanish artists grew 24% in the identical interval.
This additionally compares favorably to the European Union as a complete, which noticed Spotify royalties develop 16% YoY in 2023, in keeping with an earlier Loud & Clear report.
Nevertheless, Spain accounted for about 8.2% of the €1.5 billion ($1.62 billion) in royalties generated by EU artists on the platform in 2023 – a slight underperformance, provided that Spain has about 10.9% of the EU’s inhabitants.
Additionally notable: There have been round 1,300 Spanish artists who generated a minimum of €10,000 in royalties on Spotify in 2023, greater than triple the quantity in 2017. Regardless of this speedy progress, Spain accounted for less than 8.7% of the roughly 15,000 European Union artists who generated greater than €10,000 in royalties in 2023, as soon as once more underperforming relative to its inhabitants dimension.
Spotify additionally reported that greater than 50% of royalties generated by Spanish artists got here from exterior Spain. Examine this to Canada, the place 92% of the royalties generated by native artists got here from exterior the nation.
This implies that Spain isn’t fairly pretty much as good at exporting its music as another comparable international locations – maybe shocking, given the recognition today of Latin music, which is primarily within the Spanish language.
However which will but flip round. In 2013, Spanish artists have been found greater than 3.1 billion instances by Spotify listeners. On this metric, Spain overperformed, accounting for 11.1% of all of the EU music found by Spotify listeners in 2023.
(Spain’s success on this metric may additionally must do with the truth that some native music developments in EU international locations are actually native. Polish rap could also be large in Poland, however it doesn’t have a lot of an viewers exterior the nation.)
In accordance with Spotify, reguetón and flamenco pop are among the many hottest music genres that Spain exports, though rap, lure and melodic pop additionally play a outstanding position.
Lastly, some 60% of royalties got here from indie artists or labels (in comparison with 65% in France).
You possibly can take a look at Spotify’s country-level information on the UK, Germany, Italy, Denmark and Sweden right here.
Spotify’s information on Brazil, Canada, France and the European Union could be discovered right here.
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