In the first quarter of 2024, Spotify added five million premium users, a 12% increase compared to the previous year, bringing total subscribers to 268 million. The company recorded an operating income of €509 million ($528 million) and generated revenues of €4.2 billion (approximately $4.8 billion). With 678 million monthly active users and a discrepancy in total calculations, Spotify remains the leading global music streaming service. Despite ongoing discussions about artist compensation, Spotify continues to grow remarkably, indicating a strengthening business model.
Spotify's growth trajectory reflects a strong market presence as it adds five million premium users, achieving a record operating income in Q1 2024.
Despite controversies regarding artist payments, Spotify continues to thrive, reporting a total of 268 million paying subscribers and a strong revenue stream.
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