According to recent data revealed by Boardroom on Instagram, Nigeria’s most popular musicians are unequivocally multi-millionaires earning in dollars.
The information gives a peak into what number of streams it takes to earn 1 thousand dollars across top 10 streaming platforms.
Interestingly, Tidal comes first and appears to be the most artiste-friendly platform as it requires just 76, 924 streams to earn 1 thousand dollars. In the second and third places are Apple Music and YouTube music which require 100,000 and 125,000 respectively to earn 1 thousand dollars.
Next are Deezer and Amazon music, where an artiste’s music needs to be streamed 156, 250 and 250, 000 times to earn 1 thousand dollars.
The popular Spotify, according to the information, is in the 6th position as your music needs to be streamed 303,030 times to earn 1 thousand dollars.
The last listed on the list is Pandora on which 769, 231 streams equal 1 thousand dollars in reward.
Smiling to the bank
Indeed, most Nigerian artistes have their contents available on almost all of these platforms which are international and are of course paid in dollars.
Based on the study conducted by Statista in Nigeria, the music sector’s revenue grew from 26 million US dollars in 2014 to 34 million dollars in 2018.
This figure, according to the research and projection by Statista, is expected to grow to 44 million dollars by 2023.
The statistics from these studies reveal that the music industry possesses both the capacity to support millions of youths and generate considerable revenue for the economy.
Here are the highest-earning Nigerian artistes on Spotify, Apple Music, and Youtube.
