In 2024, Spotify reported its first full year of profitability since its inception, with net profits of €1.14 billion, a significant turnaround from €532 million in losses in 2023. Revenue rose to €15.6 billion, fueled by an 11% uptick in Premium subscribers to 263 million and a 12% increase in monthly active users to 675 million. Despite two price hikes within a year, subscriber growth remained robust. CEO Daniel Ek is optimistic about further growth and innovation in 2025, although details on a promised lossless streaming option are still pending.
Spotify is experiencing its first full year of profitability in 2024, with a net profit of €1.14 billion, reflecting significant growth in subscribers and revenue.
The increase in Premium subscribers to 263 million and a 12% rise in monthly active users shows that Spotify's price hikes did not deter its growth.
CEO Daniel Ek expressed optimism about 2025, highlighting a focus on driving long-term impact and enhancing user experience through continued innovations.
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