Spotify

Spotify Reaches Profitability Milestone, Boosted by Apple's Unexpected Move

Spotify achieved its first profitable year in 2024, potentially aided by Apple's change in policy allowing direct sign-ups and pricing displays within the app.
By Blip Tech 1 min read

Spotify celebrated its first profitable year since launching in 2008, marking a significant milestone for the company which had previously experienced consistent annual losses despite occasional profitable quarters. This achievement is attributed partly to Apple's decision to allow Spotify to display pricing within its iOS app and direct users to sign up on the Spotify website, bypassing Apple’s 30% cut. In 2023, Spotify shifted its focus from prioritizing growth to striving for profitability. The company reported strong metrics in Q4 of 2024, including a 12% year-on-year increase in monthly active users to 675 million and an 11% increase in premium subscribers to 263 million.

#Spotify #Profitability #Apple

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