In 2024, Spotify's service made a profit in all four quarters for the first time

Music streaming service Spotify has reported on revenues for the fourth quarter of 2024 and besides the statistical figures revealed some interesting information.

Here's What We Know

The Swedish company reported that 2024 was the first year in which Spotify made a profit in all four quarters. Note that the service has been operating since 2006, but only now it has become profitable.

As for the numbers, net profit for 2024 was €1.14bn. By comparison, 2023 for Spotify ended with a loss of €532m.

The company's total annual revenue rose to €15.6bn in 2024, up from €13.2bn in 2023.

This result was helped not only by an 11 per cent year-over-year increase in Premium subscribers, but also by an increase in the subscription price: Spotify raised it from $9.99 to $11.99.

Source: Spotify