Spotify’s shares surged 10% premarket after a stellar Q4 performance. The company added 35 million monthly active users, reaching a total of 675 million, which was 10 million more than anticipated. Subscriber numbers also soared, with an increase of 11 million to 263 million, exceeding expectations by 3 million. Revenue for the year grew by 16% to 4.2 billion euros ($4 billion), driven by favorable currency movements and robust business growth. The fourth quarter saw a profit of 367 million euros ($379 million), a turnaround from the previous year’s loss, although slightly below expectations due to social charges of 96 million euros. Spotify’s CEO, Daniel Ek, highlighted 2024 as a year of significant achievement, with plans to focus on music in the coming year. The company’s Spotify Wrapped campaign was its largest ever, boosting user engagement by 10% year-over-year across 184 markets and 53 languages.
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
