Today, Spotify announced its fourth-quarter 2024 earnings, celebrating its first full year of profitability. Following the announcement, company shares rose 9.8%.
The Swedish company finished Q4 with impressive performance across key metrics. In 2024, Spotify increased its number of paying subscribers by 11% and ended the year with a revenue of $1.2 billion (€1.14 billion).
These strong financial results are due to Spotify’s efforts to control costs after years of expanding into audiobooks and podcasting.
Daniel Ek, Spotify Founder & CEO told investors, “I am very excited about 2025 and feel really good about where we are as both a product and as a business. 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.”
The company stated, “Looking into 2025, we view the business as well positioned to deliver another year of continued growth and improving margins as we reinvest to support our long-term potential.”
Read our exclusive interview with Spotify Founder and CEO, Daniel Ek
By CEO NA Editorial Staff
