Wizkid N11bn: Nigerian Musicians Cash Out Big on Spotify as Songs Hit Billions of Streams

Wizkid N11bn: Nigerian Musicians Cash Out Big on Spotify as Songs Hit Billions of Streams

  • Nigerian musicians are experiencing a remarkable surge in streaming popularity on platforms like Spotify
  • Streaming revenues are providing Nigerian musicians with a new source of income for the likes of Wizkid, who has made an estimated $24m
  • It is estimated that Spotify pays artists between $0.003 - $0.005 per stream on average

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Nigerian musicians are experiencing a significant surge in streaming income on platforms like Spotify, thanks to the growing popularity of Afrobeats and Nigerian music worldwide.

The surge has also opened new revenue streams for artists and is transforming the music industry in Nigeria.

One notable example is the award-winning musician Wizkid who is now officially the most streamed artist on Spotify.

Wizkid spotify streaming earnings
Wizkid, Burna Boy, Davido Photo credit: @entertainment
Source: Facebook

Legit.ng revealed that the Made in Lagos crooner has garnered over 5.5 billion streams.

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Based on Spotify's streaming rate of $0.003 per stream, Wizkid's 5.5 billion streams on the platform would have earned him a staggering $24 million, equivalent to N11.05 billion at the current exchange rate.

Following closely behind Wizkid is Burna Boy, with 4.3 billion streams, earning him $18.79 million in royalties.

Ckay takes the third spot with 1.69 billion streams, resulting in earnings of $7.38 million.

Other notable artists on the list include Rema, with 1.65 billion streams and earnings of $7.21 million and Mr Eazi, with 1.63 billion streams and revenues of $7.12 million.

Tems, with 1.5 billion streams, earns $6.55 million, while Davido, with 1.2 billion streams, has $5.24 million.

Here is how much they earned in Naira on Spotify

  • Wizkid: N11.05 billion
  • Burna Boy: N8.58 billion
  • Ckay: N3.37 billion
  • Rema: N3.3 billion
  • Mr. Eazi: N3.25 billion
  • Tems: N2.99 billion
  • Davido: N2.4 billion

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How Spotify revenue works

The figures mentioned above are estimates and may differ from the actual income earned by the artist due to several factors.

Dittomusic has identified certain factors that can affect an artist's streaming income, including the distribution channels they use, the country of origin of their listeners, and the type of Spotify account their listeners have.

Wizkid and Davido's tour vs others: Fans pick favourite joint tour they would attend

Meanwhile, Legit.ng recalls reporting that it was a big shock on social media when Wizkid revealed he would go on a joint tour with Davido, who many perceived as his arch-rival in the music industry.

The news about the joint tour has stirred different reactions from Davido's 30 BG fans and Wizkid FC, who are famous for repeatedly dragging each other on social media over the two music stars.

As Nigerians await more details about the joint tour, we organised a poll listing the joint tours of other celebrities fans would be willing to attend if they could pick just one.

Source: Legit.ng

Authors:
Dave Ibemere avatar

Dave Ibemere (Senior Business Editor) Dave Ibemere is a senior business editor at Legit.ng. He is a financial journalist with over a decade of experience in print and online media. He also holds a Master's degree from the University of Lagos. He is a member of the African Academy for Open-Source Investigation (AAOSI), the Nigerian Institute of Public Relations and other media think tank groups. He previously worked with The Guardian, BusinessDay, and headed the business desk at Ripples Nigeria. Email: dave.ibemere@corp.legit.ng.

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