Subscription music streaming changed the fortunes of the record industry over the past decade. That’s the message from David Kaefer, Spotify’s VP of Music Business, in a blog

Music service Spotify says it paid out $10bn to the music industry in 2024, taking its lifetime payments to nearly $60bn.

Sure, a decent chunk of that did go to the artists—the release states that “well over 10,000 artists generate over $100,000 per year from Spotify alone”—but it seems to suck for most of those beneath the Bad Bunnys and Taylor Swifts of the world.

Just moments after a report indicated that Apple Music pays far better, Spotify is touting the record $10 billion it paid out to the music industry in 2024 – and eyeing a goal of one billion paid subscribers across all on-demand services.