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Spotify market cap value tops $124bn - as stock price hits record high after posting first full year of profit - Music Business Worldwide

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Swedish audio-streaming giant Spotify crossed the $ 600 threshold for the first time Tuesday .

The milestone comes as Spotify reported operating income for FY 2024 of â1.4 billion ($ 1.49bn ) The company ended 2024 with 263 million paying users, up 4% , or 11 million net subscribers, from 252 million at the end of Q3 .

Today , well over 10,000 artists generate over $100,000 per year from Spotify alone. Thatâs a beautiful thing,â said David Kaefer , VP , Music Business , Spotify . Music Business Worldwide .

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