Spotify reports first annual profit, hitting 675M monthly users and 263M premium subscribers in 2024.

Spotify reported record growth in 2024, reaching 675 million monthly active users and 263 million premium subscribers, up 12% and 11% respectively. The company's first-ever annual profit was driven by a 16% revenue increase to €4.2 billion and a 40% rise in gross profit. Spotify forecasts Q1 2025 with €548 million in operating income, attributing growth to price hikes, cost cuts, and expanded services including podcasts and video.

2 months ago
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