Spotify Reports First Full-Year Profit with Record User Growth

The streaming giant achieved key milestones, including 675 million monthly active users and 263 million premium subscribers, while navigating price hikes and cost-cutting measures.

Spotify posted its first annual profit in 2024, reporting €1.14 billion in net income, a significant turnaround from losses in prior years.
The company added 35 million monthly active users in Q4, reaching a total of 675 million, marking the largest Q4 user growth in its history.
Premium subscribers grew by 11 million during the quarter, bringing the total to 263 million, exceeding forecasts and maintaining low churn rates despite price increases.
Revenue for Q4 rose 16% year-over-year to €4.24 billion, driven by subscriber gains and increased average revenue per user.
Spotify's efficiency strategy, including cost cuts and layoffs, contributed to a record gross profit margin of 32.2% and operating income of €477 million in Q4.

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