The Swedish company Spotify Technology, which owns the Spotify musical service, summed up financial results for the fourth quarter and the entire 2024 year. The published reporting indicates an increase in the number of subscribers, which in three months has been higher than analysts forecasts. In addition, the company received the first annual profit in its history.
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Spotify net profit for the entire 2024 amounted to € 1.14 billion. For comparison, according to the results of the previous year, the company recorded a loss of € 532 million. In the fourth quarter, Spotify revenue reached € 4.24 billion (an increase of 16 % in annual calculus) , and the profit amounted to € 367 million (a year earlier was a loss of € 70 million). The cost of the company’s securities increased by 138 % in 2024.
Last year, the number of active monthly users Spotify increased to 675 million people. This indicator exceeded the forecast of analysts who expected 664.9 million subscribers. The number of paid subscribers increased to 263 million people, which was also higher than expectations.
In the first quarter of 2025, Spotify expects an increase in the user base by 3 million people, as well as an increase in 2 million paid subscribers. In addition, the growth of revenue is predicted compared to the first quarter of last year – it should amount to € 4.2 billion. Against the backdrop of the publication of the financial report of the Spotify campaign, almost 10 %, reaching about $ 549 per security.