On Tuesday morning, Spotify Declare Its profits in the fourth quarter, on the occasion of the first year of profitability since its establishment 17 years ago. The operating income for a quarter reached 477 million euros (509.48 million dollars) and reached 1.4 billion euros (1.495 billion dollars) for the fiscal year 2024.
Spotify also reported the addition of 35 million monthly active users (MAUS), which is the largest net Q4 in the company’s history, exceeding the internal expectations of 25 million. This increase reaches a total of 675 million, which represents a 12 % annual jump.
In addition, the company has seen growth at the subscriber’s paid base despite the implementation of two successive price increases for distinguished subscriptions. The company recorded 263 million subscribers, an increase of 240 million subscribers in the previous quarter.
In the last quarter, Spotify disturbed its future arrival to offer a subscription to HIFI or “Super Premium”, allowing the company to increase prices further. Former CEO Daniel Ek said the plan will cost about $ 17 or $ 18 per month, or about 5 dollars more than the current distinguished layer.
The company’s profit teacher comes in the wake of the SPOTIFY signature on a new Multi -year distribution agreement With the global music collection. The deal, which includes payments for artists and protecting their flow factors, may allow a new display of fans that include additional privileges.
