In 2024, music streaming service Spotify generated a revenue of 15.67 billion euros, reaching company’s first-ever full year of profitability. The majority of Spotify's revenues came from its premium subscribers rather than ad placements. Founded in Stockholm in 2005, the former start-up is now a market leader in the digital music streaming sector, competing alongside established companies such as Apple and their streaming service Apple Music. Spotify’s record operating income in 2024 While Spotify has established itself as a market leader, generating high revenue, it has also seen a significant turnaround in operating income. The company moved from a loss of 446 million euros in 2023 to a record operating profit of 1.37 billion euros in 2024. This milestone was driven by growth in revenue, cost optimizations, and a surge in premium subscriptions. The net income of Spotify seems to confirm this, as Spotify recorded a net profit of 1.14 billion euros in 2024, compared to a net loss of 532 million euros in 2023 and 430 million euros in 2022. The music streaming market is expanding While Spotify has struggled with generating an operating income, the music streaming market is actually expanding. The number of subscribers to music streaming services has steadily been rising, highlighting the increased popularity of digital music consumption. While this development goes hand in hand with a decrease in physical music sales, the more recent upsurge in audio content streaming can partly also be attributed to the heightened demand in entertainment caused by the coronavirus pandemic.

With music streaming not slowing down on its conquest to revolutionize the way we consume music, is the same to say about the companies that are leading the change? For Spotify, it looks like yes. The Swedish streaming giant has seen an overall increase in quarterly revenue since its foundation by CEO Daniel Ek in 2006. In the fourth quarter of 2024, the company accumulated a revenue of 4.24 billion euros. This number is also reflected in the ever-increasing number of subscribers, rising from 236 million premium subscribers in the Q4 of 2023 to 263 million in the following year. The annual revenue also reached the highest number so far in 2024, with the company generating a whooping over 15 million euros, reflecting the streaming site’s dominance on the music streaming market. Spotify’s record operating income in 2024 Despite its success as a global streaming leader, Spotify had reported significant operating losses for six consecutive quarters starting in late 2021, peaking at a record 156 million euros in the second quarter of 2023. These losses were largely attributed to heavy investments in platform development, acquisitions—particularly in the podcast sector—and rising research and development spending, which totaled 1.73 billion euros in 2023. However, the company began to recover in 2024, marking a major financial milestone with a record operating income of 1.37 billion euros for the year, including 266 million euros in the second quarter alone. This turnaround was driven by strong revenue growth, cost optimization strategies, and a surge in premium subscriptions. Spotify’s return to profitability was further confirmed by its first-ever annual net profit of 1.14 billion euros in 2024, following net losses of 532 million euros in 2023 and 430 million euros in 2022. Market competitors In recent years, Spotify has been dominating the market, expanding the distance between itself and other competitors. With a 31.7 percent share of streaming subscribers, the Swedish company is way ahead of other streaming sites such as Apple Music, with a share of 12.6 percent. Nonetheless, newer streaming services are still entering the market: the French streaming site Deezer, for example, decided to go public in the second half of 2022 and generated a gross profit of 110.1 million euros in 2023. Developments like this show that despite the streaming market being very competitive, there might still lie potential for growth in terms of user penetration but also different streaming services.

In the most recent reported fiscal year, Spotify generated approximately 13.82 billion euros in premium revenue and 1.85 billion euros in ad-supported revenue. Both figures were the highest reported to date, with premium revenue having grown by more than ten billion euros since 2017. Contributing to Spotify’s success was its strong global subscriber base – as of the third quarter of 2024, the music streaming platform had 252 million premium subscribers worldwide. Spotify has gained significant popularity across multiple markets, particularly in the United States, where over 26 percent of 18 to 34-year-olds reported using the service in 2018. Spotify’s competition Spotify’s closest competitor is Apple Music. That said, Apple’s worldwide subscribers are almost half that of Spotify’s, despite both services being popular for different reasons. Theoretically, Pandora Radio could have presented Spotify with a fair amount of competition, but this was not to be. Pandora’s radio station format failed to match Spotify’s playlist set-up in terms of popularity, and Pandora struggled to convert its users into paid subscribers, something which Spotify has always been good at. Pandora Radio received heavy investment from Sirius XM in 2017 and was officially acquired by the company in early 2019, so it will be interesting to see what happens in the future as Sirius gets to work on Pandora’s audience and attempts to generate cash from its arguably wide (but unpaid) user base. For now though, it seems that Spotify’s position remains safe.

Despite not being very profitable, Spotify has maintained strong subscriber and revenue growth. Here are the key Spotify Statistics you need to know.

Spotify reported its first-ever annual net profit in 2024, marking a significant financial turnaround. The company recorded an operating profit of 1.37 billion euros, compared to a loss of 446 million euros in the previous year. This milestone was driven by revenue growth, cost optimizations, and a surge in premium subscriptions. Additionally, Spotify's annual revenue reached 15.67 billion euros, up 18.3 percent year-on-year, further solidifying its market position.

Here is the full breakdown of how much revenue Spotify has generated each year since 2012.

In this blog are the latest Spotify statistics that paint a picture of how the company has succeeded so far and what’s likely to happen in the future.

Spotify's global revenue in the fourth quarter of 2024 was primarily derived from its premium segment, which generated 3.71 billion euros during that period. Meanwhile, following a decline in ad-supported revenue in 2020 due to the negative impact of the COVID-19 pandemic, the segment began to recover and reached an all-time high of 537 million euros in the fourth quarter of 2024.

Paying subscribers account for about half of Spotify’s monthly active users. This is the number of paying subscribers by year that Spotify has had since 2015.

Spotify has about 11 million artists and creators on the platform.

Spotify has about 80 million individual tracks on the platform.

Introduction

Spotify Statistics: Founded in 2006, Spotify is now one of the biggest names in music streaming. By 2024, it had cemented itself into users' hearts with easy access to a plethora of music and podcasts.

The article discusses Spotify's statistics performance in 2025, including some numbers, financial indicators, user engagement, and its effect on artists.

Spotify reported EUR4.24B in Sales Revenues for its fiscal quarter ending in December of 2024. Data for Spotify | SPOT - Sales Revenues including historical, tables and charts were last updated by Trading Economics this last March in 2025.

In 2024, Spotify reported its first-ever annual net profit of 1.14 billion euros, after a net loss of 532 million euros in 2023 and 430 million euros in 2022. This turnaround reflects strong revenue growth, cost optimizations, and a surge in premium subscribers. Since its launch, the company has struggled with profitability, experiencing its largest net loss of 581 million euros in 2020. However, with increasing revenues and strategic adjustments, Spotify has solidified its position as a leader in the music streaming industry. Further information Spotify is one of the leading online streaming services worldwide, experiencing rapid growth over the years. With a compound annual growth rate of 61 percent over 14 years, the platform reached 265 million paying subscribers by the end of 2024. The music streaming service also hit an all-time high of 640 million active users globally, marking a 12 percent increase in just one year. Spotify has proved popular across various markets, cementing its position as the dominant player in the digital music industry. Spotify has proved popular in multiple markets across the world, namely the United States, where more than 25 percent of 18 to 34-year-olds reported using the service. Spotify’s appeal does not only lie in its music streaming and online radio capabilities but the platform’s strong social components such as users being able to add and message friends, as well as being able to create and share music playlists as well as recommend tracks to connected users. Spotify also allows users to login with their Facebook accounts and to cross-post their listening habits to the social network In 2015, the company’s revenue surpassed 1 billion euros for the first time but not without a cost – that year, Spotify’s net loss amounted to 162 million euros. A major part of Spotify’s expenses are the royalty fees that the streaming platform has to pay to the music artists and license holders, with payments amounting to over 882 million U.S. dollars in 2014. As the music streaming industry continues to expand, digital streaming revenue in the United States reached 14.36 billion U.S. dollars in 2023, accounting for the majority of the music industry’s total revenue.

34% of Spotify’s monthly active users live in Europe. That means that Spotify has 147.22 million users in the EU regions alone.

In 2024, Taylor Swift was the most streamed artist on Spotify. Her songs were streamed over 28 billion times within the year. The second most streamed artist was The Weeknd with more than 13 billion streams in 2023.

There are currently more than 4 million podcast titles on the platform today.

In 2024, Taylor Swift was the artist with the most streamed album on Spotify. Her album "THE TORTURED POETS DEPARTMENT" was streamed over 6.6 billion times in 2024. She also entered the top 10 with her album "Lover" in sixth position, having registered nearly 3.3 billion streams on Spotify.

As of February 2024, Spotify has 574 million active users.

Spotify paid over $7 billion to its artists throughout 2021.