On Tuesday morning, Spatif introduced its fourth quarter earnings, which marked its first full yr of revenue from 17 years in the past. Working earnings for the quarter reached 7 477 million (9 509.48 million) and is price $ 1.4 billion ($ 1.495 billion) for the fiscal yr of 2024.
Spatif additionally reported the rise of 35 million month-to-month lively customers (MAUS), which is the biggest This autumn enhance in firm historical past, crossing an inside estimate of 25 million. This enhance reaches a complete of 675 million, which represents the leap for over 12 years.
As well as, the corporate skilled progress within the basis of its paid shoppers regardless of two consecutive costs for premium subscriptions. The corporate reported 263 million complete customers, which is greater than 240 million within the final quarter.
Within the final quarter, Spatif provided its HIFI or “Tremendous Premium” subscription to the longer term, which permits the corporate to extend costs. CEO Daniel EK had earlier mentioned that the undertaking would price $ 17 or $ 18 per thirty days, or about $ 5 greater than the present premium degree.
The corporate’s worthwhile milestone falls on the heels of Spatifs, which indicators a brand new multi -year distribution settlement with the Common Music Group. The contract, which incorporates funds to artists and protects the royalty of their streamlongs, can enable spots to launch a brand new provide for followers, together with extra amenities.
