The Nigerian music industry has witnessed an explosive transformation over the past decade, thanks to music streaming services like Spotify, Apple Music, Boomplay, and Audiomack. Gone are the days when artists relied solely on CD sales and live performances. Today, digital streaming platforms have opened up new revenue streams, allowing Nigerian musicians to earn in dollars while reaching a global audience.
In this article, we’ll break down how Nigerian artists are cashing out, their estimated earnings, and how streaming has reshaped the industry.
How Nigerian Musicians Make Money from Streaming
1️⃣ Royalties Per Stream (How Artists Get Paid)
Music streaming services pay royalties per stream, meaning artists earn money every time a fan listens to their song. However, the payout varies by platform:
| Streaming Platform | Estimated Pay Per Stream (USD) |
|---|---|
| Spotify | $0.003 – $0.005 |
| Apple Music | $0.007 – $0.01 |
| Boomplay | $0.001 – $0.005 |
| Audiomack | Ad revenue-based (varies) |
| YouTube Music | $0.00069 – $0.015 |
On platforms like Spotify, artists need 250,000 streams to earn between $750 – $1,250, while on Apple Music, 1 million streams could generate $7,000 – $10,000.
2️⃣ Major Nigerian Artists’ Streaming Earnings
Some of Nigeria’s top musicians are earning millions from streaming. Here’s an estimate of their revenue based on reported figures:
| Artist | Total Streams (Spotify + Apple Music) | Estimated Earnings (USD) |
|---|---|---|
| Burna Boy | 2 Billion+ | $6M – $15M |
| Wizkid | 2.5 Billion+ | $8M – $18M |
| Davido | 1.5 Billion+ | $4M – $12M |
| Rema | 1 Billion+ | $3M – $10M |
| Asake | 800 Million+ | $2M – $7M |
These numbers are not including YouTube revenue, live performances, and endorsement deals, which further increase their earnings.
Top Streaming Platforms in Nigeria & Their Impact
1. Spotify Nigeria
Launched in Nigeria in 2021, Spotify offers artists global reach. Nigerian artists like Tems, Omah Lay, and Ayra Starr have gained millions of international listeners through the platform.
2. Apple Music
Apple Music pays more per stream than Spotify, making it a preferred choice for Nigerian artists. Burna Boy’s “Love, Damini” was one of the most streamed African albums on Apple Music globally.
3. Boomplay (Africa’s No.1 Streaming Platform)
Boomplay, founded in Africa, dominates Nigeria, Ghana, and Kenya, making it a crucial platform for local artists who may not have a strong international fanbase.
4. Audiomack (Ad Revenue Model)
Audiomack is popular for free music streaming with monetization options through ads and exclusive content. Many upcoming Nigerian musicians use Audiomack to grow their audience before moving to paid platforms.
5. YouTube Music & TikTok Sound Monetization
YouTube and TikTok have become essential tools for Nigerian musicians. Viral hits on TikTok often translate into millions of streams on Spotify and Apple Music, boosting earnings.
How Nigerian Artists Are Maximizing Their Streaming Revenue
✅ 1. Releasing More Music (Streaming Culture)
Unlike the old era of album-focused marketing, today’s strategy is about consistency. Artists like Zlatan and Fireboy DML keep releasing singles to stay on top of streaming charts.
✅ 2. Global Collaborations & Afrobeats Domination
Collabs with international artists bring Nigerian musicians to a wider audience. Example:
- Wizkid x Drake – “One Dance” (Billion+ streams)
- Burna Boy x Ed Sheeran – “For My Hand” (Massive UK & US appeal)
- Rema x Selena Gomez – “Calm Down Remix” (Over 1 billion streams)
✅ 3. Playlisting Strategy (Spotify & Apple Music Playlists)
Getting featured on top playlists like RapCaviar, African Heat, A-List Afrobeats can add millions of new streams per month.
✅ 4. TikTok & Viral Marketing
Afrobeats artists are leveraging TikTok challenges to push their music to a younger audience. Examples include:
- Joeboy – “Sip (Alcohol)” (Millions of TikTok videos)
- CKay – “Love Nwantiti” (Broke global streaming records)
The Future of Music Streaming for Nigerian Artists
Higher Revenue as More Nigerians Stream Music
- In 2023, over 90 million Nigerians had access to the internet, increasing music streaming penetration.
- Platforms like MTN’s MusicTime and Boomplay bundles are making paid music more affordable.
Blockchain & NFT Music Sales
- Upcoming trend: Artists using Web3 & NFTs to sell exclusive music rights and earn directly from fans.
More Independent Artists Making Money
- With DistroKid, TuneCore, and CD Baby, artists don’t need record labels to distribute their music and earn.
Is Streaming the Future of Nigerian Music?
The music streaming industry has completely transformed the Nigerian music scene. With millions of global listeners, dollar-based earnings, and viral social media trends, Nigerian musicians are cashing out big time.
If you’re an artist, now is the best time to get your music on streaming platforms and start earning!
Great breakdown of streaming revenue! While top artists like Wizkid and Burna Boy are cashing out, I wonder how independent artists are navigating these platforms. Are there strategies they use to boost streams and increase earnings?