Nigerian Musicians Made Over 17.94 Billion Naira On Spotify - See Top Ten Highest Earning Artistes On The Streaming App

Nigerian Musicians Made Over 17.94  Billion Naira On Spotify - See Top Ten Highest Earning Artistes On The Streaming App

The Nigerian entertainment industry has now gone fully digital, with more artists choosing to release their music on major digital service providers (DSP) such as Spotify. In April, an infographic from tooxclusiv.com revealed that the top ten Nigerian artists had surpassed a billion Spotify streams.

Wizkid topped the chart and surpassed other artists with 4.4 billion streams. Burna Boy came in second with 2.7 billion streams. Mr. Eazi came in third with 1.3 billion streams, while Love Nwanatiti crooner Ckay came in first with 1 billion.

Davido is in fifth place with 909 million streams, while Maleek Berry is in sixth place with 516 million streams. Tems, an Essence co-star, is ranked seventh with 412 million streams. Rema surpasses Fireboy with 356 million streams, while Fireboy DML ranks ninth with 300 million streams.

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

How much money was made?

Using data from a number of online Spotify royalties calculators, including the Streaming Calculator, Legit.ng calculated that the 10 artists earned more than N17.94 billion ($42,779,640) from the streams.

According to a Business Insider report from 2020, Spotify has paid artists as little as $.0033 per stream, which means that artists would need around 250 streams to earn one dollar.

It is important to note, however, that earnings are determined by the audience's location and services. According to a 2020 report from music distributor iGroove, UK listeners pay $0.0049 per stream, while US listeners 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 

Artists Number of streams Amount earned(estimate)

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

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

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

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

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

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

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

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

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

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

Found it interesting? Comment and Share to your friends! Sharing or commenting is a proof of appreciation.

CLICK HERE TO JOIN OUR WHATSAPP GROUP FOR TRENDING NEWS, SPORTS, JOB AND SCHOLARSHIP POSTINGS, NEWS AND ENTERTAINMENT.