Spotify has reported its fourth quarter performance in 2024, showing a 12% increase in Monthly Active Users (MAUs) from the same period the previous year, totaling 675 million accounts. Of these accounts, 263 million are premium users, marking an 11% growth. Total revenue saw a 16% increase, reaching 4.242 billion euros, with a net profit of 367 million euros.
The streaming platform noted a significant increase of 35 million accounts in the fourth quarter, which is the highest quarterly growth on record. This growth in revenue surpassed company expectations due to exchange rate factors.
Notable features introduced by Spotify in this quarter include Wrapped 2024, which received strong positive feedback and saw exponential growth, the testing of video podcasts in select countries, and over $10 billion paid to artists in 2024 alone.
Source: Spotify
TLDR: Spotify’s Q4 report for 2024 shows a 12% increase in MAUs, with record growth in premium users and revenue exceeding expectations. New features like Wrapped 2024 and video podcasts were well-received, with over $10 billion paid to artists in 2024.
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