“We’ve never been in a stronger position”: Spotify releases its Third Quarter earnings for 2024Spotify has shared its Q3 earnings for 2024, with CEO Daniel Ek celebrating that the streaming platform has “never been in a stronger position”.
The brand says it has outperformed across key metrics, with its subscriber and user growth continuing to climb, and that it is well on its way to its first full year of profitability.

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Across Q3, Spotify’s monthly active users grew by 11 percent year-over-year to 640 million, with subscribers having also increased by 12 percent to 252 million. Total revenue was up across the quarter by 19 percent year-over-year to €4 billion, with its gross margin reaching 31.1 percent. Operating Income has also improved to €454 million.
Within its report, Spotify has additionally summarised how its latest developments and features are continuing to expand around the world. These are as follows:

Music videos: In beta, these are now available in 97 markets for Premium users.
AI Playlist feature: This continues to roll out in the US, Canada, and more, allowing Premium users to let AI curate playlists from their prompts and ideas.
Growing Daylist: This personalised playlist feature, which updates throughout the day, is now available to Free and Premium users worldwide, and is now supported in over 14 languages.
Countdown Pages: Eligible artists can now unlock Countdown Pages, where fans can pre-save albums, preview tracklists, buy merch, and countdown to releases.
Introduction of Livi: A new beta AI DJ, Livi, is now available in Spanish for Spanish-speaking Premium users worldwide.
First-ever on-platform voting feature: T-Pop fans were given the ability to vote for their favourite artists and influence who appeared on the TV show Thailand Music Countdown.

Spotify also launched its own creative hub called Casa Spotify Buenos Aires back in August. The space is dedicated to elevating Argentine artists, and features a podcast studio, listening rooms, and an acoustic performance space.
Alongside its music-focused progression, Spotify has also grown features for its podcasts and audiobooks. Users now have the ability to comment under podcasts to continue discussion, and Premium users in non-English speaking countries including France, Belgium, the Netherlands, and Luxembourg can now access over 200,000 titles via Audiobooks.
Ek comments, “I’m incredibly proud of the way we’ve delivered and the progress we’ve made. We’re where we set out to be – if not a little further – and on a steady path toward achieving our long-term goals. This relentless pursuit of innovation and commitment to growth sets us up to deliver the most valuable user experience in the industry, while reinforcing the core strengths that make Spotify unique. I am very excited about what lies ahead for us.”
To find out more, head over to the Spotify Newsroom.
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