Spotify matched its best quarter ever for subscriber growth during the fourth quarter of 2024, the Stockholm-based music streaming giant reported on Tuesday morning, while at the same time posting a quarterly profit of about $380 million. That strong quarter helped solidify the first annual profit for Spotify since it was founded in 2006.
“I am very excited about 2025 and feel really good about where we are as both a product and as a business,” Spotify CEO Daniel Ek said in a statement. “We will continue to place bets that will drive long term impact, increasing our speed while maintaining the levels of efficiency we achieved last year.