Spotify announced annual profit for the first time in its history

Spotify announced annual profit for the first time in its history





Spotify announced annual profit for the first time in its history




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Spotify, which started to serve in 2008, has announced a loss for years. For the first time, he managed to reach profitability. The company announced 532 million losses in 2023, last year 1.14 billion euros profit explained that he did.

Revenues and number of users increased

Spotify, which earned 13.2 billion euros in 2023, in 2024 15.6 billion euros with an increase of 18 % earned income. Company’s total number of active users Increased by 12 %to 675 million The number of premium subscribers on the way out To 263 million with an increase of 11 % rose.

Spotify managed to increase the number of subscriptions, although it increased the price of premium subscriptions twice in 11 months. The company, the price of premium in the US in July 2023 from $ 9.99 to $ 10.99 per month, in June 2024 11.99 dollars raised. Spotify’s individual premium subscription price in Turkey 59,99 TL.

Spotify, new music service last year artificial intelligence supported playlists ve audio book developed with features. However, Spotify has promised for a long time lossless sound It still remains unclear when the option will be released.






Source

https://newsroom.spotify.com/2025-02-04/spotify-reports-fourth-quarter-2024-earnings/


https://www.theverge.com/news/605709/spotify-earnings-q4-2024-profitability











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