Spotify envisions a future where 1 billion people subscribe to streaming music, doubling the current 500 million users across all platforms. The company argues that streaming services have helped normalize paying for music, benefiting artists.

On Tuesday, Spotify revealed it paid the music industry $10 billion in 2024, bringing its total contributions to nearly $60 billion since its launch in 2006. The platform claims artist earnings have grown significantly, with over 10,000 musicians now making more than $100,000 annually—ten times the figure from 2014.

Despite this, Spotify faces criticism for lower per-stream payouts compared to rivals like Apple Music and YouTube Music. Many artists argue that the service prioritizes mainstream acts, making it harder for emerging musicians to gain exposure.

Defending its model, Spotify’s Chris Macowski suggests competitors’ higher per-stream rates stem from lower user engagement. Spotify, he says, focuses on maximizing overall payouts rather than per-stream earnings.

The company, which reported a 19% revenue increase last quarter, expects to announce its first full year of profitability next week. However, tensions remain high—especially after Spotify legally shut down a parody site that highlighted the disparity between user subscription fees and artist royalties.