Spotify is not only the name of one of the leading streaming platforms but also a name surrounded by discord when it comes to wealth distribution. We will come back to this in a moment, but first, let us take a look at the analysis published by Top Dollar, a financial publication, which reveals who Spotify’s highest-earners are.
The most commercial genres of music are precisely what the name suggests, so it’s no surprise which acts top the list of the wealthiest on Spotify. The head of the list is occupied by Drake, who holds a reign that is hard to beat. Mathematics attributes 21.5 billion streams to the Canadian artist, which generated $52.5 million in earnings. Next on the podium, we find J Balvin, with his no less impressive $37.9M.
When it comes to our beloved dance music, it first appears represented further down at the No. 16, with The Chainsmokers. The duo collects $17.7 million generated by 7.2 billion streams. At No.25 we find Calvin Harris, who has already collected $14 million. These two big names are already used to being associated with prosperity, both being very highly rated on the famous Forbes wealthy list.
Looking at the tracks, the stage belongs to Ed Sheeran‘s anthemic ‘Shape of You’, which grossed $6.6 million from 2.7 billion streams. Post Malone and 21 Savage‘s ‘Rockstar‘ takes second place, achieved thanks to 2.1 billion streams that reflected a gain of $5.1 million.
The Chainsmokers appear again in the listing with ‘Something Just Like This’ their power collaboration with Coldplay. This hot tune amassed 1.5 billion streams that generated $3.6 million. ‘Lean On’ by Major Lazer and DJ Snake comes right behind with 1.4 billion streams and $3.5 million in earnings. In this listing of most-valuable songs we also find at No. 39 ‘Faded‘ by Alan Walker, the cover star of our February digital magazine issue.
Spotify’s ten highest-earners add up to a total of $337,485,480 from streams on the platform. It is a truly impressive sum, yet it does not represent the reality of most artists, but only a small elite. According to Rolling Stone, over 98% of producers only raise $12 a month, exposing the lack of fair earnings that led the musician’s union to launch the one-cent streams campaign on the platform, called ‘Justice at Spotify’.
The data represented was calculated by surveying the top 100 living artists with the most streams on Spotify and taking into account the value per stream of $0.0049, noting that the top artists receive about half of the revenue. Check out all the interesting data from Spotify’s ‘Rich List 2021’ here.
Image Credit: Forbes