Spotify increases the number of users to 678 million and profit to 4.2 billion euros
Spotify reported that the number of premium Spotify users increased by five million in the first quarter of this year (between January and March). This is 12% more than in the first quarter of 2024, bringing the total number of paid subscribers to 268 million.
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The company also reported a record quarterly operating profit of 509 million euros (about $528 million). Spotify's total revenue for the first three months of the year was 4.2 billion euros (approximately $4.8 billion). As of the end of March 2025, the service has 678 million monthly active users, of which 423 million use free advertising.
There is an interesting detail in the calculations: if 423 million users use the free version with advertising, and 268 million pay for premium, then the total number should be 691 million, not 678. Perhaps they made a mistake with the numbers somewhere, but this does not change the main thing - Spotify continues to grow steadily in terms of both users and finances.
Despite criticism about the size of payments to artists, Spotify remains the market leader in music streaming services. The streaming service paid out $10 billion to artists, producers and music labels in 2024. Currently, more than 10,000 artists earn more than $100,000 a year on the platform. In total, Spotify has paid out nearly $60 billion to the music industry since its launch.
Source: Spotify
