Reported 1 day ago
Spotify has reported a record increase in active users and subscriber growth in Q4 2024, resulting in its first-ever annual profit of €1.14 billion. The streaming service surpassed Wall Street estimates with 675 million monthly users and 263 million paying subscribers. CEO Daniel Ek emphasized the company's commitment to expanding its product offerings, including audiobooks and podcasts, which has contributed to its profitability despite previous price hikes. As Spotify aims to maintain this growth trajectory, its shares climbed significantly following the announcement.
Source: YAHOO