Daniel Ek says Spotify has “never been in a stronger position” as the streaming giant set itself on track for its first full year of profitability, capping a remarkable 2024 turnaround following the turmoil of last December’s mass layoffs.
Spotify beat expectations across several key metrics in its third quarter of 2024, growing monthly active users (MAUs) by 11% year-on-year to 640 million people, while subscribers rose 12% to 252 million. The group also expanded revenues by double digits and set a new record for operating income.
