Spotify wants to see 1 billion people paying for streaming music, double the more than 500 million customers who currently subscribe to Spotify and its competitors. In Spotify’s view, artists are lucky to have streaming services,

Bjork called Spotify and streaming 'probably the worst thing that has happened to musicians' because of the low royalty payments most receive.

Price increases and cost discipline helped the audiostreaming giant pivot from heavy spending on growth to sustained profits.

Radio stations are a great alternative. You just hit the play button, and someone else makes the decisions. Now, of course, Spotify and other such services offer radio-station-like options of their own. But there’s always that “next track” button tempting you to skip around. Plus, these options still don’t have that human touch.

Spotify shares climbed 10% Tuesday after the music streaming company recorded its first full year of profitability, closing the fiscal year with 1.14 billion euros in net income. Here are the numbers from their fourth-quarter earnings report:

Spotify hit all the right notes in reporting Q4 and full-year 2024 earnings, with the audio streamer turning in its first annual net profit since it was founded in 2006. Shares of Spotify surged more than 10% on the solid earnings report in early trading Tuesday.

Shares have risen considerably since the company executed cost-cutting measures and shifted away from its beleaguered podcasts strategy. Shares in music streamer Spotify (NYSE: SPOT) are up nearly 9% in premarket trading as of the time of this writing after the company reported fourth-quarter earnings results for its fiscal 2024.

Spotify Technology SA posted another quarter of better-than-expected subscriber growth in the fourth quarter, helping the Swedish music company record its first-ever annual profit.

In the past, Spotify has spent heavily upfront to build new product experiences, like podcasts, which dragged on its profits. But this year, Spotify plans to do more "with pretty much the same amount of resources that we already have at the company,

Spotify said in November that it was on track to hit its profitability milestone. Total yearly revenue grew to €15.6 billion (about $16.1 billion) from the €13.2 billion (abou