Spotify’s Q3 2024 results exceeded expectations across key metrics, positioning the company closer than ever to a full year of profitability.
By the numbers:
- 640 million monthly active users (MAUs), up 11% year-over-year (Y/Y)
- 252 million paid subscribers, marking a 12% Y/Y increase
- €4 billion in total revenue, a 19% rise Y/Y
- 31.1% gross margin, showing steady growth
- €454 million in operating income, further improving Spotify’s bottom line
What they’re saying
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.”
Why it matters
Spotify’s relentless focus on innovation and user experience has paid off. With strong user and revenue growth, the company is building momentum toward sustainable profitability, reinforcing its position as a leader in the streaming industry.
Source: Spotify
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