Spotify Revenue and Growth Statistics (2024)

Key Spotify user stats. Includes data on the number of users, market cap, revenue, profit, investments, and more.
Last updated on:
December 29, 2023
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Interesting Facts about Spotify (Top Picks)

  • The monthly active users of Spotify users reached 456 million users as of the third quarter of 2022.
  • In 2021, there were 273 million Spotify ad-support users.
  • There were 195 million Spotify premium subscribers in 2021.
  • Spotify users in Europe account for 39% of the total Spotify customer base (about 220,350,000 premium subscribers are Europeans).
  • Over 80 million songs are available on the Spotify store.
  • Spotify currently has almost 4.7 million free accessible podcasts.
  • In 2022, Spotify’s market cap exceeds $15.09 billion.
  • As of 2021, Spotify generated $9.668 billion in revenue.
  • Spotify has raised a total of $2.1 billion in funding over 18 rounds. Their latest funding was raised on Feb 25, 2021, from a Post-IPO Equity round.
  • Spotify has made 5 investments. Their most recent investment was on Mar 10, 2020, when Sounder.fm raised $1.8 million.
  • Spotify has acquired 27 organizations. Their most recent acquisition was Kinzen on Oct 5, 2022.
  • The number of Spotify employees reached 9,808 as of 2022.
  • In 2022, Spotify hold a 32% share of the online audio stream industry.
  • Spotify had 3,284,200 iOS and 11,800,000 Android downloads in 2022.

Spotify Overview (About Company)

Source: SEC, Crunchbase

How many users of Spotify are there?

Graph about Number of Spotify users worldwide

How many Monthly Active Users of Spotify are there? (MAU)

The monthly active users of Spotify users reached 456 million users as of the third quarter of 2022.

Graph about Number of Spotify Monthly active users

Source: Statista

How many Spotify premium subscribers are there? (Spotify premium users)

There were 195 million Spotify premium subscribers as of the third of 2022.

Graph about Spotify number of premium subscribers

Source: Statista

How many Spotify ad-supported users are there? (Spotify freemium users)

In Q3 of 2022, there were 273 million Spotify ad-support users.

Graph about Spotify number of ad-support users

Source: Statista

Spotify’s premium subscribers worldwide

Spotify users in Europe account for 39% of the total Spotify customer base (about 220,350,000 premium subscribers are Europeans).

Graph about Spotify percentage of premium subscribers worldwide

Source: Statista

How many songs are on the Spotify store? (Tracks)

Over 80 million songs are available on the Spotify store.

Graph about Spotify number of songs

Source: Business Insider, NME, Rolling Stone, Spotify

How many podcasts are on the Spotify store?

Spotify currently has almost 4.7 million free accessible podcasts.

Graph about Spotify number of podcasts

Source: Spotify

Spotify Market Cap (Valuation)

In 2022, Spotify’s market cap exceeds $15.09 billion.

Graph about Spotify Market Cap

Source: Macro Trends

Spotify Revenue

As of 2021, Spotify generated $9.668 billion in revenue.

Graph about Spotify Revenue

Spotify Revenue by Segment

Spotify generated $8.460 billion in revenue from premium subscribers in 2021, while it generated $1.208 billion in revenue from advertisements (ad support).

Graph about Spotify Revenue by segment

Source: Statista

Spotify Average Revenue Per Ad-Supported User (Ad-Supported ARPU)

The Ad-Supported ARPU (Average Revenue Per User) for Spotify is displayed in the table below from 2015 to 2021.

Spotify Average Revenue Per Premium User (Premium ARPU)

The premium ARPU (Average Revenue Per User) for Spotify is displayed in the table below from 2015 to 2021.

Spotify Average Revenue Per User by region

The Spotify ARPU by region (Average Revenue Per User) is displayed in the table below from 2017 to 2022.

Graph about Spotify Average Revenueper user by region

Spotify Gross Profit

Gross profit for Spotify Technology was $3.076 billion for the year ending September 30, 2022, up 5% from the previous year.

Source: Macro Trends

Spotify Operating Income

  • A 133.23% drop from 2020, Spotify’s yearly operating income for 2021 was $0.111 billion.
  • Spotify’s operating revenue for the year 2020 was $-0.335 billion, up 309.36% from the previous year.
  • A 61% increase from 2018, Spotify’s yearly operating income for 2019 was $-0.082 billion.

Source: Macro Trends

Spotify Funding

Spotify has raised a total of $2.1 billion in funding over 18 rounds. Their latest funding was raised on Feb 25, 2021, from a Post-IPO Equity round.

Source: Crunchbase

Spotify Investments

Spotify has made 5 investments. Their most recent investment was on Mar 10, 2020, when Sounder.fm raised $1.8 million.

Source: Crunchbase

Spotify Acquisitions

Spotify has acquired 27 organizations. Their most recent acquisition was Kinzen on Oct 5, 2022.

Source: Crunchbase

How does Spotify make money?

Spotify’s main revenue source comes from users upgrading to a premium subscription. Spotify is a music streaming platform that gives users access to a large catalog of music. It operates on a freemium revenue model, providing a basic, limited, ad-supported service for free and an unlimited premium service for a fee.

Source: Strategyzer

How many people work at Spotify?

The number of Spotify employees reached 9,808 as of 2022.

Graph about Spotify Employee count

Source: SEC, Macro Trends

How many office locations does Spotify have?

The headquarters of Spotify is in Stockholm, Sweden, and the company has offices there and in 43 other cities across the world.

Here are a few of Spotify’s corporate addresses.

Source: Craft

Who founded Spotify?

Spotify was initially a small start-up in Stockholm, Sweden, founded by Daniel Ek and Martin Lorentzon.

They created the platform in 2006 in response to the music industry’s mounting piracy issue.

Two years after its launch, Spotify provided music lovers with a free service that included advertisements in the hopes that they would upgrade to the £10 a month ad-free subscription.

Source: BBC

What is the net worth of Spotify’s founder(s)?

  • About Daniel Ek

Stockholm-born Daniel Ek is the co-founder and CEO of Spotify, a music streaming service.The company has over 381 million users, with 172 million of them being paying subscribers.Ek owns nearly 9% of the shares but has 37% voting control thanks to a dual-class share system. In 2006, Ek and his business partner Martin Lorentzon founded the company in Sweden, and the product was launched in 2008. Ek pledged to invest 1 billion euros in European technology in September 2021, cofounding the venture capital firm Prima Materia.

Personal Information of Daniel Ek

Daniel Ek’s net worth history

Source: Forbes

  • About Martin Lorentzon

Martin Lorentzon co-founded Spotify with his friend Daniel Ek in 2006, and the streaming music service debuted two years later. The service has over 180 million users, with 87 million of them paying subscribers. Lorentzon, a Swedish entrepreneur, owns 12% of the shares but has 43% voting control thanks to a dual-class share system. Lorentzon is a Silicon Valley veteran who held senior positions at search engine Alta Vista in the 1990s before going public with the European ad network Tradedoubler. In early April 2018, Spotify listed its shares on the New York Stock Exchange in an unusual direct listing, without the assistance of investment banks.

Martin Lorentzon Personal information

Graph about Martin Lorentzon net worth

Martin Lorentzon’s net worth history

Source; Forbes

What are the most listened-to songs on Spotify? (Most-Streamed Tracks)

Source: Time, Spotify 1, Spotify 2

What is Spotify’s market share?

In 2022, Spotify hold a 32% share of the online audio stream industry.

Graph about Spotify Market Share

Here’s a table of Spotify’s market share per year:

Source: Music Industry Blog, Midia Research, Variety, Techcrunch 1, Techcrunch 2, Statista

Who are the 25 most popular artists on Spotify? (Top Steamed Artists)

Graph about Spotify top steamed artists

Source: Chart Masters

25 Most streamed albums on Spotify

Source: Chart Masters

What are the top five popular podcasts on Spotify?

Here are the top 5 most popular podcasts on Spotify worldwide:

  • The Joe Rogan Experience
  • Crime Junkie
  • Call Her Daddy
  • The Daily
  • Armchair Expert with Dax Shepard

Source; Spotify

What are the most popular podcast genres on Spotify?

Here are the top 5 most popular podcast genres among Spotify’s worldwide audience:

  • Society & Culture
  • Comedy
  • Lifestyle & Health
  • Arts & Entertainment
  • Education

Source: Spotify

In how many countries is Spotify available?

There are 178 countries where Spotify is currently available. Spotify has increased its presence in 85 additional countries since 2020.

Infographic about number of countries is Spotify available

Sources: Spotify

How many playlists are available on Spotify?

There are more than 4 billion playlists on Spotify. In just 2020, the music streaming service added almost 1 billion new playlists.

Infographic about number of playlist are there in Spotify

Source: Spotify

How many Spotify music tracks are played on average every month?

On Spotify, a track lasts three minutes and 17 seconds on average. For an active user, the typical number of music streamed on Spotify per month is probably around 473 tracks.

Infographic about number of Spotify music tracks played per month

Source: Statista

How many songs do most users have in their Spotify library?

Despite having unlimited access to millions of music, Spotify users had to adhere to a stringent 10,000 song limit per library, which was recently removed. Now, Spotify users can add as many tracks as they like to their library.

How much music time does the average Spotify user listen to?

The average Spotify user listens to music for 25 hours per month. Spotify is extremely popular for smartphone listening, with 54% of users listening to music via a mobile device.

Who are Spotify subscribers? (users demography)

Spotify users’ gender

A whopping 58.25% of spotify.com‘s users are men and 41.75 % are women.

Graph about Spotify users' gender

Source: Similar Web

Spotify users’ age

Spotify users who are 25 to 34 years old make up the majority of the audience.

Graph about Spotify users’ age

Source: Similar Web

Who is Spotify’s targeted users?

Spotify’s target audience is spread out around the world, with the majority of its users being in Europe. Young adults—Millennials and Gen Z—are the typical Spotify users, but there is also a sizable audience of elderly adults—55 and over—who also appreciate the music on the app.

Source: Start

How many app downloads did Spotify get in 2022?

Spotify had 3,284,200 iOS and 11,800,000 Android downloads in 2022.

Source: Statista 1, Statista 2

Spotify web traffic analysis

Spotify’s top marketing channels

Direct traffic is the main source of traffic to Spotify.com, accounting for 73.14% of desktop visits in the previous month. Search traffic comes in second with 15.99% of visits.

Graph about Spotify's top marketing channels

Source: Similar Web

Social media traffic to Spotify

The majority of traffic to spotify.com‘s social media pages comes from YouTube, followed by Facebook and Twitter.

Graph about Social media traffic to Spotify

Source: Similar Web

Spotify device traffic analysis by countries

Graph about Spotify device traffic analysis by countries

Source: Semrush

What is the average time spent by users on Spotify?

On average, Spotify users spend 8 minutes and 55 seconds on each visit to the website.

Infographic about Spotify average time spent by users

Source: Semrush

Spotify FAQ

  • Is Spotify actually free?

You can use Spotify for free, but its features are limited. On the free plan, music can be played in shuffle mode and you can skip up to six times per hour, every hour. Spotify Radio isn’t available, but you can access Daily Mix playlists.

  • Is Spotify Premium free worth it?

However, if you need to hear the latest songs, want full control over playback, save offline and avoid ads, Spotify Premium is more than worth the cash. Even if Spotify HiFi ends up as a separate, even more, expensive tier, Premium would still likely be an attractive middle ground.

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About the author

Ch Daniel is the co-founder of SignHouse and chairman of the CH Group. Daniel is leading the development of SignHouse's product, as well as strategising how else the company can reach its main mission: empowering 100M+ to use the world's most efficient document organisational tools.