Spotify has released its annual “Loud and Clear” report, highlighting significant developments in the music industry, especially regarding Canadian artists. In 2024, Spotify paid over $10 billion to the global music industry, which is the largest single-year payout by any retailer in music history. This report revealed that Canadian artists earned nearly CAD $460 million in royalties through the platform last year, showcasing a remarkable growth of 129% in Canadian music revenue over the past five years, ultimately reaching CAD $909 million in 2024.
The report notes that about 1,500 artists made over $1 million in royalties from Spotify in 2024, with 80% of them not appearing in the Spotify Global Daily Top 50. This indicates that many artists can create sustainable income streams without mainstream hits. Canadian artists, in particular, have flourished on a global scale, largely thanks to internationally successful stars like The Weeknd, Justin Bieber, and Céline Dion, who have paved the way for emerging talents.
Impressively, 94% of the royalties earned by Canadian artists on Spotify originated from outside Canada, signifying the country’s position as one of the world’s top music exporters. Canadian music is not only popular locally but is also enjoyed in cities around the globe, from Jakarta to London. Moreover, the report highlights the rising influence of French music in Canada, which saw a 15% increase in global royalties over the past year.
The track “Je te laisserai des mots” by Québécois artist Patrick Watson became the most popular French-language song on Spotify, crossing the 1 billion streams milestone. Furthermore, Canadian women have increasingly contributed to music creation, with their global streams on Spotify doubling since 2020. As of 2024, 40% of Canadian artists earning over CAD $1 million were women or part of mixed-gender groups.
This growth speaks to the diversity and vibrancy of Canada’s music scene, emphasizing its significant role on the international stage.