Spotify releases its annual music economics report: These Canadian artists came out on top

Article content

As one of the largest streaming services in the world, Spotify rankings can have a major impact on an artist’s career. Its annual Loud & Clear report, which was released on June 4, breaks down the economics behind those numbers, sharing real data about the royalties that artists earn based on their overall streams, as well as how the streaming economy fuels Canada’s music industry’s growth. 

Article content

Based on data from Spotify, “Canadian artists generated nearly $460 million CAD in royalties from Spotify alone in 2024. Spotify has grown to become not only the largest single source of music royalties worldwide, but also the leading contributor to the music industry in Canada — a critical driver of revenue growth for the country’s music creators.”

Article content

Article content

The report also shared more interesting data about music streaming in Canada: 

• Last year, 92 per cent of all royalties generated by Canadian artists on Spotify came from listeners outside of Canada. 
• Nearly 15M hours of Canadian music are streamed every day around the world
• Canadian artists are featured on 2.4 billion user playlists globally, ranking as the third-most featured country in the world.
• Québécois artist Patrick Watson’s “Je te laisserai des mots” was the most popular Francophone track on Spotify in 2024. It was also the first French-language track to pass a billion streams.
• Over 40 per cent of the Canadian artists who broke the $1M mark in 2024 on Spotify are women, or perform in groups with both male and female members.
• Nearly 40 per cent of all royalties generated by Canadian artists on Spotify in 2024 were by independent artists or labels.
• Recorded music revenue in Canada grew 129 per cent between 2014 and 2024, from $397M CAD to $909M CAD. Audio streaming now accounts for nearly 79 per cent of total recorded music revenue, with the majority from paid subscriptions like Spotify Premium.

Article content

Canada’s most listened-to songs 

Spotify Canada has also compiled its Global Impact List, which tracks Canada’s most listened-to songs from January 2024 through October 2024: 

1. JENNIE, Lily-Rose Depp, and The Weeknd – “One Of The Girls”
2. Tate McRae – “greedy”
3. Daft Punk and The Weeknd – “Starboy”
4. The Weeknd – “Blinding Lights”
5. Madonna, Playboi Carti and The Weeknd – “Popular” 
6. The Weeknd – “Die For You”
7. Drake, Kyla and Wizkid – “One Dance”
8. Justin Bieber and The Kid LAROI – “STAY” 
9. Ruth B. –  “Dandelions”
10. Lana Del Rey and The Weeknd – “Stargirl Interlude”

Shopping Essentials, a category written by research-obsessed shopping fanatics, is now on Canoe.com. Explore in-depth product reviews, expert recommendations and exciting collaborations — plus get behind-the-scenes info on your favourite brands and trending products — learn more here or sign up for our newsletter.

kmendonca@postmedia.com

instagram.com/kate.mendonca

Love concerts, but can’t make it to the venue? Stream live shows and events from your couch with VEEPS, a music-first streaming service now operating in Canada. Click here for an introductory offer of 30% off. Explore upcoming concerts and the extensive archive of past performances.

Article content