Last year, Spotify paid out more than $11 billion to the music industry, bringing the company’s total payouts since launch to nearly $70 billion. The milestone year reflected the “largest annual payment to music from any retailer in history,” the company announced on Wednesday in a post. According to the post, Spotify makes up roughly 30% of recorded music revenue and pays out two-thirds of all music revenue to the industry. Hollywood Inc. Spotify digs in on podcasts with new Hollywood studios In addition to its Arts District campus, Spotify is expanding to Hollywood with a new video-focused podcast studio. This includes an emphasis on more artist-powered videos, continuing to promote artists’ live shows on the platform and expanding the role of the company’s music curators.