Spotify – Company Overview

Headquarter	New York, USA
Platforms	Mobile, PC, TV, Tablets, Speakers, Cars
Number of Employees	7000+
Website	https://www.spotify.com/
Founded Date	2006
Founders	Daniel Ek, Martin Lorentzon
Crunchbase Profile	Profile Link
Google Play	App Store Link
App Store	App Store Link

Spotify User Stats (2024)

• Spotify was the 10th most downloaded mobile app in 2022, generating 238 million new app installs across the App Store and Google Play.
• For Q1 2024, Spotify MAUs grew 19% year-over-year to 615 million, belove its own guidance.

Spotify Subscriber Stats (2024)

• In the first quarter of 2024, Spotify’s premium subscribers grew 14% year-over-year to 239 million.

• To date, Spotify’s Clubhouse rival Greenroom has been downloaded 141,000 times on iOS and 100,000 times on Android.
• Ed Sheeran’s ‘Shape of You’ is the decade’s most listened to song on Spotify with 2.5+ billion streams. (BBC)
• As of the week ending February 10, 2022, ‘Heat Waves’ by Glass Animals was the most-streamed track on Spotify with 31.67 million streams worldwide, followed by abcdefu by GAYLE and ‘STAY (with Justin Bieber)’ by The Kid LAROI with just over 27 million streams.

• According to Edison Research and its own internal sources, Spotify “recently became” the No. 1 podcast platform U.S. listeners use the most. An eMarketer research published back in March estimated that Spotify podcast listeners will outnumber Apple Podcasts’ in 2021. The report estimated that in 2021, 28.2 million people will listen to podcasts on Spotify on a monthly basis, while 28.0 million will listen via Apple Podcasts.

Spotify Artist Statistics (2023)

• As of 2023, the number of Spotify artists making over $1 million as well as those generating over $10,000 had more than doubled in the past five years. (Reuters)
• In 2021, for the second year in a row, Puerto Rican Reggaeton star Bad Bunny takes the title of most-streamed artist in the world on Spotify, with 9.1 billion streams.
• Ed Sheeran is the most followed artist on Spotify with 93+ million followers as of March 2022, followed by Ariana Grande with 76+ million..  (ChartMasters)
• Number of artists using Spotify for Artists tools on a monthly basis has grown to 690,000+, up 68% year-on-year. (Spotify)
• The number of artists who make up the top 90% of streams has grown 43% year-over-year to 43,000+.
• In 2020, Billie Eilish continued her reign as Spotify’s most-streamed female artist for the second year in a row, followed by Taylor Swift and Ariana Grande. (Spotify)
• 91,000+ creators (artists) have fundraised directly from fans. 

Spotify Revenue Statistics (2024)

• Spotify revenue for Q1 2024 was €3.64 billion, up 2*% year-over-year. Its premium revenue grew 20% YoY to €3247 billion. Ad-supported revenue for the fourth quarter grew 18% YoY to €389 million.
• Spotify revenue for the full year 2023 was €13.25 billion.
• Spotify expects to reach annual revenue of $100 billion over the next 10 years.

Spotify ARPU Stats

• Within Premium, Spotify ARPU was €4.55 in Q1 2024, up 5% Y/Y. (Spotify)

Within the second quarter 2020, Spotify announced a $20 million podcast advertising partnership with Omnicom Media Group. (MediaPost)

Spotify Acquisitions

October 2022: Spotify acquires Kinzen to detect and prevent harmful content

July 2022: Spotify acquires Heardle, the Wordle-inspired daily music game

February 2022: Spotify acquires Podsights and Chartable to advance podcast measurement 

December 2021: Spotify acquires Australia-based podcast technology platform Whooshka

November 2021: Spotify to acquire audiobook platform Findaway

June 2021: Spotify acquires podcast discovery platform Podz

November 2020: Spotify Acquires Podcast Advertising Firm Megaphone For $235 Million

FAQ

What is Spotify?

Available on smartphones, PCs, tablets, speakers, TVs, and cars, Spotify is one of the most popular digital content platforms helping users to discover and instant access millions of music, podcasts, and video from a variety of artists and genres worldwide. 

Spotify is a free of charge service where its users can register and start searching and listening to music and podcasts without any paid subscription. In Free Spotify, users can also create playlists, add songs to favorites, and get recommendations based on what they like.

What is Spotify Premium?

Spotify Premium is Spotify’s paid subscription where users are offered more than one plans according to their usage behavior and needs. In all Spotify Premium plans, users can download music to listen offline from anywhere, enjoy music and podcasts without ad interruptions, and hit unlimited skips.  

Student Plan: $5.99 per month per account offering ad-supported Hulu plan, ad-free music experience, offline listening, and on-demand playback

Individual Premium Plan: $10.99 per month per account with one month free offering ad-free listening, offline play, and on-demand playback

Spotify Duo Plan: $14.99 per month for 2 accounts with one month free, preferred by couples, offering Duo Mix, a playlist for two, regularly updated with music couples enjoy, ad free music listening, offline playing, and on-demand playback.

Family Plan: $16.99 per month for up to 6 accounts living under one roof, offering blocking music, ad-free experience, offline playing, on-demand playback, Spotify Kids for the kids under age 12, and Family Mix where the family can create a playlist regularly updated with music they love.