That’s the question that financial publication Top Dollar aims to answer in their newest analysis. It’s a bit rough around the edges, relying on estimates, some guessing, and lack of information in regards to contracts, but the ballpark figure seems reasonable. “We extracted the top 100 artists based on Spotify streams (leaving out the artists who have passed away). Then we calculated each one’s total earnings (assuming that one stream equates to $0.0049) and halved the total figure because top artists only receive about 50% of revenue from streams.”
In their findings, Drake dominated earnings on the platform, with an estimated haul of $52,546,150. He earned 37% more than the second-highest earner on the list, Bad Bunny. He, along with the rest of the group, are all far more closely packed than Drake way out there in front. However, the top-earning song, specifically, was “Shape Of You” by Ed Sheeran, which Top Dollar estimates generated $6,566,000 for the UK artist.
Halsey, Dua Lipa, The Weeknd, Cardi B, Billie Eilish, Ariana Grande, Ozuna, Justin Bieber, Post Malone, and more also made the top earners list, along with the sole electronic act, The Chainsmokers.
“Closer” is one of the top-streamed songs overall on Spotify with 1.9B streams, earning the duo an approximate $4,699,100 alone. “Something Just Like This” also earned the duo a guesstimated $3,557,400 with 1.5B streams, just more than Major Lazer, DJ Snake, and MO’s “Lean On” that generated an approximate $3,503,500 with 1.4B streams.
Overall, The Chainsmokers have a total of 7.2B streams, with an estimated total earnings of $17,672,812 just from Spotify alone.
The full report is available for review here.