Spotify has already shared their financial statements for Q4 2024 and it shows a very interesting improvement. Spotify now has over 675 million monthly active users and 263 million paid subscribers. The total revenue this time is €4.2 billion, 16% higher than the previous year.
Spotify also shared that this new success is also due to the offering of over 330,000 videos on their platform. In addition to now helping content creators share their work and also generate income. Throughout 2024, Spotify has paid over $10 billion to the music industry.
Then the audiobook collection is also growing and now reaches 350,000 books. At the same time, the annual Spotify Wrapped summary also received an increase in the number of users by up to 10%.
There is no doubt that Spotify is still the most popular streaming platform. But unfortunately, with the increasing subscription prices – users in Malaysia cannot enjoy many other features. As of today, AI DJ, audio books and videos are still not offered. Hopefully, with the number of users increasing and profits increasing, Spotify will be fair to users in Malaysia.