Spotify said on Wednesday it paid $10 billion in royalties in 2024, the largest payout to the music industry in a single year ...

Of the $10 billion Spotify doled out to music rights holders last year, it gave about $5 billion to indie labels and artists, the company said, a $500 million increase from 2023.

Spotify's market valuation is roughly $110 billion. Warner and Universal are worth roughly $70 billion combined. Bloomberg explains the streamer's runaway success compared to music labels.

Get the complete Spotify icons meaning guide. Understand playlist controls, playback buttons, and other symbols to improve ...