By Aderinola Abimbola.
The global takeover of Afrobeats is proving to be not just a cultural advantage but also a financial one. According to Spotify’s newly released 2024 report, Nigerian Afrobeats artists earned a total sum of ₦58 billion in royalties from the streaming platform last year which is more than double of the 2023 figures.
This jaw-dropping payout shows a new era for Afrobeats music as it continues to dominate global charts and playlists.
With Afrobeats icons like Burna Boy, Wizkid, Asake and Tems headlining international festivals, the genre of music has become one of Africa’s most streamed sounds. Spotify reported that over 250 million playlists globally now feature Nigerian Afrobeats artists, a proof that the world just can’t get enough.
But beyond the popular and famous names, this growth is also opening doors for up-and-coming talents. In 2024, a record number of up-and-coming Nigerian artists crossed the ₦10 million annual earnings mark through Spotify alone.
This shows that Afrobeats is now more than just a genre. With more fans streaming from across the globe, the movement is no longer just “Naija to the World” it’s Naija running the world.
Afrobeats tracks are now dominating not only African charts but also making significant impact on Billboard, Apple Music Global, and Spotify Global Top 100.
