On Tuesday morning, Spotify announced its fourth quarter revenue and marked the first year of profitability since the start of 17 years ago. The quarterly operating income reached a record of € 477 million ($ 509.48 million), reaching € 1.4 billion ($ 1,495 million) in the 2024 fiscal year.
Spotify also reported the addition of 35 million active users (MAUS), the largest fourth quarter of the company, exceeding 25 million internal forecasts. With this increase, a total of 675 million, a jump of 12 % year -on -year.
In addition, the company has experienced a paid subscriber -based growth, despite the fact that the price has risen twice in a row for premium subscriptions. The company reported from the previous quarter of the previous quarter to 263 million subscribers.
In the previous quarter, Spotify made HIFI or the future of the “Super Premium” subscription in the future, making the company further raised the price. CEO's Daniel EK earlier stated that the plan was about $ 17 or $ 18 per month, or about $ 5 more than the current premium layer.
The company's profitable milestone is right after Spotify, which signs a new multi -year distribution agreement with Universal Music Group. This transaction can launch a new product for fans, including paid to artists and protects streaming royalties.