Spotify releases its annual music economics report: These Canadian artists came out on top
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Based on data from Spotify, 'Canadian artists generated nearly $460 million CAD in royalties from Spotify alone in 2024. Spotify has grown to become not only the largest single source of music royalties worldwide, but also the leading contributor to the music industry in Canada — a critical driver of revenue growth for the country's music creators.'
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Last year, 92 per cent of all royalties generated by Canadian artists on Spotify came from listeners outside of Canada.
Nearly 15M hours of Canadian music are streamed every day around the world
Canadian artists are featured on 2.4 billion user playlists globally, ranking as the third-most featured country in the world.
Québécois artist Patrick Watson's 'Je te laisserai des mots' was the most popular Francophone track on Spotify in 2024. It was also the first French-language track to pass a billion streams.
Over 40 per cent of the Canadian artists who broke the $1M mark in 2024 on Spotify are women, or perform in groups with both male and female members.
Nearly 40 per cent of all royalties generated by Canadian artists on Spotify in 2024 were by independent artists or labels.
Recorded music revenue in Canada grew 129 per cent between 2014 and 2024, from $397M CAD to $909M CAD. Audio streaming now accounts for nearly 79 per cent of total recorded music revenue, with the majority from paid subscriptions like Spotify Premium.
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THE CANADIAN PRESS/Chris Young 'It's just that we happen to be at a moment right now, where the whole condo market is, you know, frozen, and the land market is frozen, and nobody wants to lend money, and suddenly we're building too many apartments instead of not enough apartments. So I think right now, it's quite a bad moment for those big, visionary development projects,' Jacobs says. Still, he notes that large property owners like Cadillac Fairview, which owns the building, have vast holdings and can afford to wait for the right project and market conditions without having to rush to fill an empty building. In a statement to CP24, Cadillac Fairview said it is eyeing options for the site, but hasn't made any decisions yet. 'Cadillac Fairview is constantly assessing the ever-changing retail landscape to ensure the long term success of our shopping centres and the communities where we operate,' wrote Anna Ng, the company's director of corporate communications. 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