Spotify user numbers hit record high

4 February 2025, 13:44

The Spotify App shown in an Apple iPad mini
App Stock. Picture: PA

The music streaming platform has published its latest round of financial results and confirmed its first full year of profitability.

Spotify said its user numbers have hit a record high of 675 million, as the music streaming giant published its latest financial results.

The Sweden-based firm said user numbers were up 12% year-on-year, and the jump was its highest ever for a fourth quarter, with the number of paying Premium subscribers also rising 11% on last year to 263 million.

Those numbers come despite the music streaming service increasing subscription prices, including in the UK, in each of the last two years.

In its results, Spotify said total revenue was also up 16% on the same period last year to 4.2 billion euros (£3.5 billion), and that the firm had achieved a full year of profitability for the first time.

The company said that it had paid also out 10 billion dollars (£8 billion) to the music industry in 2024.

Spotify founder and chief executive, Daniel Ek, said: “I am very excited about 2025 and feel really good about where we are as both a product and as a business.

“We will continue to place bets that will drive long-term impact, increasing our speed while maintaining the levels of efficiency we achieved last year.

“It’s this combination that will enable us to build the best and most valuable user experience, grow sustainably and deliver creativity to the world.”

The music streaming platform has been expanding its offerings beyond audio in recent years, having previously embraced podcasts and video.

In November, the company announced it was rolling out ad-free video podcasts to Premium subscribers, and in its latest results said more than 500 million users had now listened to a podcast on Spotify and 270 million have streamed a video podcast on the platform.

By Press Association

More Technology News

See more More Technology News

A graphic of a robot hand touching a human hand

Experts ‘deeply concerned’ as Government agency drops focus on bias in AI

TikTok is back on US app stores.

TikTok returns to app stores in the US including Apple and Google

Peter Kyle walking past black railings holding a red folder

Rebranded AI Security Institute to drop focus on bias and free speech

A Barclays sign outside a branch

Barclays to hand share award to staff after yearly profit surges by a quarter

A bin of seized knives. A new AI tool from the University of Surrey has been unveiled which could help police forces more quickly identify and trace knives.

New AI tool to identify knives could ‘transform’ policing of knife crime

Former executive chairman of Google Eric Schmidt

Former Google boss warns of ‘extreme risk’ from terrorists posed by AI

A laptop displaying a ‘Matrix’-style screensaver

MPs: Ministers must give protections to creative sector amid AI copyright fears

French President Emmanuel Macron addresses the audience in a closing speech at the Grand Palais during the Artificial Intelligence Action Summit in Paris

Refusal to sign AI declaration was ‘based on what’s best for British people’

Someone at a computer keyboard

Airbnb issues warning over holiday scams fuelled by AI and social media

An HSBC branch

HSBC online and mobile banking working again after service outage

HSBC on growth across the UK

HSBC hit by outage as users complain of being unable to log on

The summit in Paris (Michel Euler/AP)

UK did not sign AI communique over ‘opportunity and security’ concerns – No 10

Sky Glass Gen 2

Sky unveils second generation Sky Glass TV promising ‘better picture and sound’

Technology Stock

UK announces sanctions against Russian cyber crime network

Participants in the AI Action Summit pose for a group photo at the Grand Palais in Paris

UK appears not to have signed leaders’ declaration at AI summit

OpenAI CEO Sam Altman

Sam Altman reiterates OpenAI ‘not for sale’ after Elon Musk-led bid