Spotify had a record quarter, now has 678 million users

Spotify has added five million premium users in the first quarter of this year (between January and March), the company has just revealed. That’s a 12% increase compared to Q1 2024, and brings the total paying subscribers to 268 million.

The streaming service has also reported a record quarterly operating income of €509 million (about $528 million). Revenue was €4.2 billion, or around $4.8 billion. Spotify now boasts that it has 678 million monthly active users, and 423 million ad-supported monthly active users, though the math doesn’t quite add up – if 423 million users are ad-supported and 268 million are paying, the total is 691 million, not 678 million.

Then again, the difference is small, so perhaps we’re missing something here. Anyway, controversies about how much (or rather, how little) it pays artists aside, Spotify has turned into a mature profit-making business, and it seems to be steadily growing in both user numbers as well as income. It’s still the leading music streaming service worldwide, by some margin, after all.

Source (PDF)

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