Spotify updated its annual Loud and Clear report on Wednesday, confirming that for a second consecutive year, the streaming giant paid out half of its royalties to independent artists. Of the $10 billion Spotify doled out to music rights holders last year, it gave about $5 billion to indie labels and artists, the company said, a $500 million increase from 2023. The report comes weeks after Spotify announced its first-ever full year of profit, 18 years after the company was founded in 2006. Source: Half of Spotify’s Royalties Are Going to Indie Artists