Spotify reports its first full year of profitability, adds 35M monthly active users

Tuesday morning, spotify Declaration Its fourth-fourth earnings, since its inception 17 years ago, identified its first full year in the first year of profit. The quarterly operating income reached $ 477 million ($ 509.48 million) and the amount of € 1.4 billion ($ 1.495 billion) for the 2024 fiscal year.

Spotify has also reported the addition of 35 million monthly active users (MAS), that it has exceeded the largest Q4 net addition to company history, over 25 million internal estimates. This growth brings a total of 675 million, it represents the jump over 12% of the year.

In addition, the company felt the growth of its customer base, despite the implementation of two prices drawn for premium subscriptions. The company has reported 240 million to 263 million total customers in the previous quarter.

In the last quarter, spotify Teashed In the future its HIFI or “Super Premium” subscription offers, enables the company to increase the price. CEO Daniel One said earlier that the plan would spend about $ 17 or $ 18 per month or about $ 5 more than the current premium level.

The company’s profitable milestone comes in a new signing heels of Spotify Several years of distribution agreement Including the Universal Music Group. This agreement, which gives artists and protects their streaming royalities, can launch a new offer for fans involving extra parks.