European artists generated EUR 1.5bn of Spotify payouts in 2023.

The world of music has always been characterised by big numbers and a certain level of secrecy; however, artists and fans deserve to know about the economic data generated by music streaming - Spotify has therefore decided to offer as much transparency as possible. Through its interactive platform 'Loud & Clear', the company is sharing the revenue generated by artists through recording and publishing exclusively on Spotify.

In the first half of June 2024, the site published payment statistics for the European music market, highlighting how artists on the continent generated EUR 1.5 billion in 2023 alone, showing an increase of 16% year-on-year.

By highlighting the market created around these artists, Spotify's intention is also to show the European political environment the key role played by the music economy within the continent in question.