Nigerian musicians are experiencing a remarkable surge in streaming popularity on platforms like Spotify Streaming revenues are providing Nigerian musicians with a new source of income for the likes of Wizkid who has made an estimated $24m It is estimated that Spotify pays artists between $0.003 – $0.005 per stream on average.
Nigerian musicians are experiencing a significant surge in streaming popularity on platforms like Spotify, thanks to the growing popularity of Afrobeats and Nigerian music worldwide. The surge has also opened new revenue streams for these artists and is transforming the music industry in Nigeria.
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 of his music, 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 earnings of $7.12 million.
Tems with 1.5 billion streams earns $6.55 million while Davido with 1.2 billion streams and earnings of $5.24 million.
