FINANCIAL PERFORMANCE

Spotify Reports Third Quarter 2024 Earnings

November 12, 2024

Today, we announced our third quarter 2024 earnings where we outperformed across key metrics, moving us one step closer to a full year of profitability. Take a look at the highlights below:

  • Monthly Active Users grew 11% Y/Y to 640 million.
  • Subscribers increased 12% Y/Y to 252 million.
  • Total Revenue was up 19% Y/Y to €4 billion.
  • Gross Margin reached 31.1%.
  • Operating Income improved to €454 million.

“We’ve never been in a stronger position, thanks to the outstanding execution by our team. I’m incredibly proud of the way we’ve delivered and the progress we’ve made,” said Daniel Ek, Spotify Founder & CEO,“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.”

Interested in hearing more? Click here to review the full earnings release and listen to the webcast Q&A on our Investor Relations site here.