Spotify reported its first full-year profit early on Tuesday and highlighted that it signed up an additional 35 million monthly active users in the fourth quarter of 2024.
The audio giant reported 675 million monthly active users, the largest fourth-quarter increase in Spotify’s history. Paid subscribers grew by 11 percent year over year to 63 million. Both figures came in above Spotify’s guidance.
Total revenue grew 16 percent year over year to €4.2 billion in the final quarter of the year. Quarterly operating Income finished at a high of €477 million, with Spotify’s first full year of operating income hitting €1.4 billion
“I am very excited about 2025 and feel really good about where we are as both a product and as a business,” said Daniel Ek, Spotify founder & CEO. “We will continue to place bets that will drive long-term impact, increasing our speed while maintaining the levels of efficiency we achieved last year. It’s this combination that will enable us to build the best and most valuable user experience, grow sustainably and deliver creativity to the world.”
With the company’s operational headquarters in Stockholm, Sweden, Spotify shares are listed on the New York Stock Exchange in the form of American depositary receipts under ticker symbol SPOT.
More to come.
