A study has found that being placed on Spotify’s Today’s Top Hits can be worth up to $163k to an artist.
A Spotify study carried out by Luis Aguiar and Joel Waldfogel from the National Bureau of Economic Research in Cambridge (first reported by Musically), suggests that placement on Spotify’s ‘Today’s Top Hits’ playlist can be worth between $116k and $163k depending on the artist.
Today’s Top Hits has over 20 million followers
This immense following provides featured artists with invaluable potential to build a wider fan base, with the opportunity to be added to other influential playlists. Spotify is home to over 2 billion playlists and streaming services now contribute to over 50% of industry revenue across the globe, according to a recent report by the International Federation of the Phonographic Industry.
It’s Spotify’s Latin playlist ‘Viva Latino!’ that has been calculated to offer $303k and $424k of additional royalties to a featured artist, while ‘Baila Reggaeton’ is estimated worth to an artist is $164k-$230k.
Playlist exposure has become hugely influential to the success of new artists and tracks. An artist being added to a popular, trending playlist with a substantial following can determine the short and long-term trajectory of their career. According to the report, “being on the Global Top 50 list, raises a song’s streams by about 3 million, or by about 3.3% of the average streams for songs that make the Global Top 50”.