Is Spotify Profitable?

About Spotify

Spotify was founded by Daniel Ek and Martin Lorentzon in 2006 in Stockholm and is one of the biggest music streaming platforms in the world.

Spotify’s Biggest Market

India and Indonesia are the two biggest markets for Spotify.

Spotify’s Revenue

Spotify's revenue for the quarter ending in September 2023 was $3.654B, showing a 19.49% year-over-year increase.

Ways in Which Spotify Make Money

Spotify primarily makes money in two ways: From Ads and from Memberships. In fact, Spotify's premium services segment contributed 87.4% of Spotify's total revenue in that year.

Spotify's Net Worth

As of 2023, Spotify’s net worth or market cap is $33.36 billion making it the world’s 553rd most valuable company by market cap.

Spotify Annual Users

Spotify’s annual user count is consistently increasing, and by the end of 2023, it is expected to see 517.69 million users.

Is Spotify Profitable?

Spotify generated a net loss of €430 million in 2022 compared to a net loss of €34 million in 2021 and €581 million in 2020.