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.

The figure brings the music streaming giant's total contribution since its founding in 2006 to nearly $60 billion

In the blog, humbly titled “Getting the world to value music,” Kaefer describes the pre-streaming era of music as an exclusive club that made it difficult for new artists to enter the industry. “Now, you can record something today and have it on Spotify tomorrow,” said Kaefer. “Everyone’s invited.”