The world’s number one audio streaming service, Spotify, ended 2024 on a triumphant note. With 675m active users and an annual net profit of €1.1bn--a first for the company--the Swedish platform erased the loss of €532m recorded a year earlier. This is the first time since its creation in 2006 that the company has ended a full year in the black.

In the last three months of 2024, Spotify gained 35m new active users. “The fourth quarter was the strongest in our history and exceeded forecasts by 10m,” the company said in a statement.

The number of paying subscribers, Spotify’s main revenue driver, rose by 11% to 263m. This momentum was partly underpinned by price increases in several key markets, notably the United States. In the US, the standard subscription now costs $11.99 (around €11.59), compared with €10.99 in Luxembourg, a difference of €0.60. In Luxembourg, the other packages cost €5.99 for students, €14.99 for the Duo package and €17.99 for the family subscription, which includes up to six premium accounts.

Spotify generated sales of €15.7bn in 2024, up 18% on the previous year. In the fourth quarter alone, its operating profit came to €477m.

“We ended 2024 with a solid performance in the fourth quarter, with almost all our performance indicators exceeding forecasts and profitability reaching record levels,” the group said. Looking ahead to 2025, the company says it is “well positioned to continue to grow and improve margins.”

“I am very excited about 2025 and feel really good about where we are as both a product and as a business,” concluded Spotify founder and CEO Daniel Ek.

This article in French.