Revenue for the past quarter totaled €4 billion, marking a 19% annual increase. Net profit reached €300 million, a significant jump from €65 million in the same period last year, while operating profit stood at €454 million.

The platform’s monthly active users, including both paid and free accounts, rose by 14 million, totaling 640 million. Europe and Latin America led the growth in premium subscribers across all global regions.

Spotify’s co-founder and CEO, Daniel Ek, noted that the company is in its strongest position to date. Speaking at a press conference in Los Angeles, Ek announced plans for Spotify’s expansion into video content.

As of late September, Spotify employed over 7,200 people following major layoffs at the end of last year and early this year. In June 2024, Spotify raised its subscription prices, with individual plans increasing to $12, family plans to $20, while the student plan remained at $6.