Spotify sealed a historic milestone by reporting its first fully profitable year since its 2008 debut, marking a turning point for the music streaming leader. In 2024, the company posted a net profit of €1.14 billion, a sharp contrast to the €532 million loss recorded the previous year. The results reflect a broader momentum across the platform as it grows beyond its early growth phase into sustained profitability. The year also saw Spotify’s top line rise as annual revenue reached €15.6 billion, up from €13.2 billion in 2023. The combination of stronger financials and expanding scale underscores Spotify’s ability to monetize its massive user base while continuing to push product innovation.
During 2024, Spotify continued to scale its core business, with paid subscribers and monthly active users growing steadily. Premium subscribers rose by 11 percent, climbing from 236 million to 263 million. At the same time, the total number of active users per month expanded by about 12 percent, reaching roughly 675 million. The growth was broad based, supported by regional expansions, enhanced engagement features, and a persistent shift toward paid listening that improves monetization for artists and rights holders. The company highlighted that gains in subscribers and users contributed significantly to revenue uplift and to the improving profitability, signaling a durable trajectory for the platform.
Spotify also rolled out new features powered by artificial intelligence to enhance listening experiences. The updates include smarter playlist generation and audio book recommendations, helping listeners discover content that matches their tastes with less effort. While the materials note these AI based capabilities, they did not specify when or if a lossless streaming option would become widely available. The focus remained on increasing personalization while maintaining high quality audio and reliability. These innovations are part of a broader strategy to deepen user engagement, raise retention, and drive longer listening sessions that translate into higher revenue per user over time.
Daniel Ek, the chief executive, commented on the outlook for 2025 with cautious optimism. He said that he is pleased with the company’s trajectory and has confidence in its business and overall health. He emphasized maintaining the efficiency levels achieved in the prior year while pursuing investments that can yield long term benefits and accelerate growth. The statement framed Spotify’s path as a balance between operational discipline and creative ambition, aiming to deliver the best possible user experience, support creators, and sustain a steady pace of growth for the platform in North America and beyond.