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.

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.”

(CNN)– Spotify says it paid $10 billion to the music industry last year. That is a billion more than the streaming service paid out the previous year. It brings the grand total up to $60 billion since Spotify started in 2006. One caveat is artists do not necessarily see all of that money.

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.