Spotify: $1.5bn annual profit for 2024

By Thomas

On February 4, 2025

In News

Spotify posts $1.5bn annual operating profit for 2024, as subscriber base grows to 263m in Q4

Spotify saw its global Premium Subscriber base grow to 263 million paying users in Q4 – and achieved its first full year of operating profit in 2024.

That’s according to Spotify’s investor filing published today (February 4). The filing shows that the streaming company’s global Premium Subscriber base of 263 million paying users in Q4 2024 (ending December 31) was up 11% year over year.

SPOT’s paid user base of 263 million subs in Q4 was up by 4%, or 11 million net subscribers, on the 252 million SPOT counted at the end of the prior quarter (Q3 2024).

The music streaming company says that its 11 million net subscriber additions in Q4 “significantly outperformed” – surpassing guidance by 3 million subs.

In the 12 months to the end of December, Spotify added +27 million net paying subscribers. (It finished 2023 with 236 million paying subs.)

Spotify also reports that its operating income finished at “a record high” of €477 million($509.48m) in Q4, driving the company’s first full year of Operating Income profitability to €1.4 billion ($1.495bn).

Commenting on the company’s latest results, Daniel Ek, Spotify Founder and CEO, said: “I am very excited about 2025 and feel really good about where we are as both a productand as a business.”

Added Ek: “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.”

CLICK HERE TO READ THE FULL REPORT ON MBW

Spotify

Pin It on Pinterest