According to Spotify, Afrobeats songs would have received 13.5 billion streams on its streaming platform by 2022.
The US-owned music streaming platform updated its Afrobeats tracker site with new numbers illustrating the six-year expansion of the Nigeria-dominated genre.
The site’s data, titled ‘Afrobeats: Journey to a Billion Streams,’ revealed that the genre has seen a boom in popularity on the streaming service.
In 2017, Afrobeats tracks had 2 billion annual Spotify streams. However, the statistic increased at an exponential rate to 13.5 billion streams in 2022, representing a 550 percent growth.
Afrobeats had 5.9 billion streams in 2020, 8.4 billion in 2021, and 13.5 billion in 2022, according to statistics.
The growth rate in 2021-2022 is an amazing 60.7 percent year on year.
According to a Spotify research, Nigerian artists generated N11 billion in royalties from the streaming platform in 2022.
It also stated that the revenue generated by Nigerian artists on its platform has surged by 74%.
“By 2022, Nigerian artistes’ revenues from Spotify alone will have exceeded 11,000,000,000 NGN.” While Nigerian music business sales increased 63% from 2021 to 2022,” according to the research.
“According to IFPI, revenues generated by Nigerian artists – from Spotify alone – grew 74% over this same time period.”
Below are some other data points from the streaming service.
Top Afrobeats Artistes Globally