Today, Spotify announced that it had paid out more than $11 billion to the music industry in 2025. It’s an impressive-sounding number that’s a full $1 billion more than it paid last year. And, according to Spotify, that accounts for roughly 30 percent of the entire recording industry’s revenue. This figure, however, is purely a measure of royalties paid to the music industry and does not include merch or ticket sales, nor does it include audiobook royalties or podcasting deals.
However, it is important to note that this doesn’t mean that Spotify paid out $11 billion to musicians and artists. That money went to “rightsholders.” That includes …
