Spotify paid over $9 billion to the music industry in 2023, bringing its total payments to rights holders since its founding to $48 billion, the company announced Thursday (Feb. 8). At $9 billion a year, Spotify accounts for a significant share of the global music market. While it’s too early in the year for 2023 global industry data to be released, rough estimates based on existing data give a clue about Spotify’s immense value. The global value of music copyright was $41.5 billion in 2022, according to music economist Will Page. If the global value of music copyright rose 10% in 2023 — not an outlandish assumption
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