The company’s net profit in 2024 reached 1.14 billion euros against the loss of 532 million euros in 2023.
The Swedish company Spotify Technology, the operator of the same musical streaming service, first completed on the net profit throughout the year – 1.14 billion euros against the loss of 532 million euros in 2023. Media Report.
It was noted that Spotify’s revenue in the fourth quarter of 2024 rose 16% in the annual terms in 4.24 billion euros.
The number of service users (account activity at least once a month, MAU) at the end of the quarter is worth recording 675 million people for a period of time, rising by 12%per year. The number of paid subscribers Spotify increased by 11%, up to 263 million.
Running revenue in October -December reached 477 million euros against the loss of 75 million a year before, profitability – 32.2% against 26.7%. The net profit costs 367 million euros, or 1.76 euros per part compared to the loss of 70 million euros, or 0.36 euros per part, in the fourth quarter of 2023. The Factset Consensus Forecast provided 1.99 euro per part.
It is expected that in the first quarter of 2025, the total number of users will increase to 678 million, the number of paid subscribers will reach 265 million, the income will be 4.2 billion euros, operating profit – 548 million euros.
Remember that Spotify’s streaming service set a new financial record – in 2024, the company paid the $ 10 billion musical industry. This money was received not only by artists, but also by publishers, producers and other partners.
Earlier it was reported that Spotify published a list of the most popular artists and songs of 2024 to Ukrainian listeners.
Source: korrespondent
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