With the Grammy Awards looming, Spotify wants to remind the industry that it has been at the forefront of its renaissance. The streaming audio giant said Tuesday that it paid out $10 billion to the music industry in 2024, a new record high. And it has paid out a collective $60 billion since its founding a decade ago.

Accumulatively, the digital music specialist has paid out nearly $60 billion to its content providers since its commercial launch.

Compared to Spotify, Apple Music is one of the better-paying platforms for artists. Here's the payment difference between the streamings.

Spotify announced on Tuesday that it paid out $10 billion to the music industry in 2024, $1 billion more than last year, and $60 billion since 2006.

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

The streaming service set yet another record for the highest annual payment to the music industry from any single retailer

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.

Spotify paid out a record $10 billion to the music industry. This brings it to a total of nearly $60 billion since its inception. Today, the company has more than 500 million paying listeners across all music streaming services.