Spotify user numbers hit record high
The music streaming platform has published its latest round of financial results and confirmed its first full year of profitability.
Spotify said its user numbers have hit a record high of 675 million, as the music streaming giant published its latest financial results.
The Sweden-based firm said user numbers were up 12% year-on-year, and the jump was its highest ever for a fourth quarter, with the number of paying Premium subscribers also rising 11% on last year to 263 million.
Those numbers come despite the music streaming service increasing subscription prices, including in the UK, in each of the last two years.
I am very excited about 2025 and feel really good about where we are as both a product and as a business
In its results, Spotify said total revenue was also up 16% on the same period last year to 4.2 billion euros (£3.5 billion), and that the firm had achieved a full year of profitability for the first time.
The company said that it had paid also out 10 billion dollars (£8 billion) to the music industry in 2024.
Spotify founder and chief executive, Daniel Ek, said: “I am very excited about 2025 and feel really good about where we are as both a product and as a business.
“We will continue to place bets that will drive long-term impact, increasing our speed while maintaining the levels of efficiency we achieved last year.
“It’s this combination that will enable us to build the best and most valuable user experience, grow sustainably and deliver creativity to the world.”
The music streaming platform has been expanding its offerings beyond audio in recent years, having previously embraced podcasts and video.
In November, the company announced it was rolling out ad-free video podcasts to Premium subscribers, and in its latest results said more than 500 million users had now listened to a podcast on Spotify and 270 million have streamed a video podcast on the platform.