Spotify’s premium subscriber numbers have now passed 250 million.
The streaming giant has announced its third quarter 2024 earnings, where it met or outperformed the guidance across key metrics.
Operating income of €454 million represents a record result and puts the company on the path to delivering its first full year of profitability.
According to the Q3 results, monthly active users grew 11% year-on-year to 640 million. Spotify premium subscribers increased 12% year-on-year to 252 million. There was annual and quarterly growth across all regions, with Europe and Latin America leading the way for subscriptions.
Total revenue was up 19% year-on-year to €4 billion.
"We’ve never been in a stronger position, thanks to the outstanding execution by our team,” said Daniel Ek, Spotify founder & CEO. “I’m incredibly proud of the way we’ve delivered and the progress we’ve made. We’re where we set out to be – if not a little further – and on a steady path toward achieving our long-term goals. This relentless pursuit of innovation and commitment to growth sets us up to deliver the most valuable user experience in the industry, while reinforcing the core strengths that make Spotify unique. I am very excited about what lies ahead for us."
For the full year, Spotify is forecasting an additional 25m monthly active users in Q4 (total: 665m) and an extra eight million subscribers (total: 260m).
FOLLOW 
