Global music distribution & label services company Ditto Music has today released predictions that Spotify will witness over 500 songs on its platform pass the 1 billion streams milestone by the end of the year - and before Apple Music achieves its first track reaching the billion stream mark.
Ditto research has found that Spotify is well on track to hit 500 songs with a billion streams each over the coming months, forecasting that this will likely happen before the end of 2023. With the Billions Club playlist member count sitting at 473 and previous years suggesting an average annual increase of 118%, Spotify is on course to hit the 500-song mark by early November 2023.
Ditto's Spotify Royalty Calculator estimates that artists reaching the billion stream count on Spotify can earn up to $4.37 million from their online streams, depending on their location and other variable circumstances. You can check out how the other streaming services including Apple Music match up here.
“With Spotify set to hit this remarkable streaming milestone, it once again highlights how success on the platform can transform the lives of musicians selling their music online. At Ditto, our goal has always been to support artists in easily getting their music onto the biggest online music stores - and helping them keep hold of everything they earn while doing so.”
Lee Parsons, Ditto Music CEO
Although Apple Music has yet to see any song reach 1 billion streams on its platform, data from the company suggests that this achievement is also on track to happen around November 2023, with Ed Sheeran's 'Shape of You' currently the most streamed song on Apple Music, with roughly 930,000,000 streams.