Spotify raked in sufficient money and new subscribers in 2024 to rejoice its first full 12 months of profitability because the service was launched in 2008. The announcement comes as a part of Spotify’s fourth-quarter earnings launch, with web income at €1.14 billion (round $1.17 billion) for the entire of 2024, in comparison with the €532 million (round $549 million) in losses reported final 12 months.
Spotify stated in November that it was on observe to hit its profitability milestone. Total yearly income grew to €15.6 billion (about $16.1 billion) from the €13.2 billion (about $13.6 billion) reported for 2023. That was pushed partially by an 11 % year-over-year improve in Premium subscribers, leaping from 236 million to 263 million, whereas the overall variety of month-to-month energetic customers rose 12 % to 675 million.
“I’m very enthusiastic about 2025 and really feel actually good about the place we’re as each a product and as a enterprise,” says Spotify CEO Daniel Ek. “We will proceed to position bets that can drive long-term affect, growing our pace whereas sustaining the degrees of effectivity we achieved final 12 months. It’s this mix that can allow us to construct the most effective and most useful consumer expertise, develop sustainably, and ship creativity to the world.”
