Founded in 2006 and launched in 2008, Spotify has emerged as a leading music streaming platform. In over a decade, the platform has changed the music industry forever.
Users willing to get Spotify service simply need to register themselves. In just a few seconds, they get access to a vast music, podcast, and other audio content collection.
The platform has a free model, which gives access to music but at a lower quality. It also includes advertisements and requires users to have an internet connection. But users can get a better music listening experience by paying for Spotify premium.
Spotify Key Statistics
If you want to listen to the best quality music or tune into a podcast, Spotify is your go-to partner. The platform offers the most amazing music listening service, ensuring there’s something for everyone.
Here’s a quick sneak peek into Spotify’s key statistics:
- Spotify’s 2025 revenue is projected at $14.80 billion, with 2024 Q1 and Q2 earnings of $3.64 billion and $3.81 billion, respectively.
- Premium subscriber revenue is expected to hit $13.62 billion in 2025, driven by its 220 million premium users.
- With a 31.7% market share and over 640 million monthly users, Spotify remains the leader in music streaming.
- In 2024, Spotify’s ad revenue reached $410 million in Q1 and $430 million in Q2, with 2025 estimates at $1.17 billion.
- Europe leads as Spotify’s largest user base, with 159 million users in the region.
- With a library of 100 million songs and 5 million podcasts, Spotify adds 60,000 new songs daily.
- North American users spend the most time on the platform, averaging 140 minutes daily.
- Drake is the most-streamed artist on Spotify with 40 billion lifetime plays.
- Spotify’s subscribers have nearly doubled since early 2017.
Spotify Overview
- Launch Date: 23 April 2006
- Headquarters: Stockholm, Sweden
- People: Daniel Ek and Martin Lorentzon
- Company Type: Public
- Industry: Music Streaming
Spotify Revenue
Spotify has witnessed impressive revenue growth over the years. Starting with $2.94 billion in 2016, the company has consistently expanded its revenue, reaching $13.75 billion by 2023.
In the first two quarters of 2024, Spotify earned $3.64 billion and $3.81 billion respectively, reflecting its strong momentum.
As of 7th January 2025, Spotify’s estimated revenue for the year is projected to hit $14.80 billion.
The platform has successfully tripled its revenue in a few years.
Spotify Annual Revenue ($bn)
| Year | Revenue ($bn) |
| 2016 | 2.94 |
| 2017 | 4.62 |
| 2018 | 5.25 |
| 2019 | 6.76 |
| 2020 | 7.88 |
| 2021 | 9.66 |
| 2022 | 11.72 |
| 2023 | 13.75 |
| Q1 2024 | 3.64 |
| Q2 2024 | 3.81 |
| 2025 (Estimated) | 14.80 (Updated 7th Jan 2025) |
Sources: Spotify
Revenue Through Premium Subscribers
Starting at $2.64 billion in 2016, revenue from premium subscribers steadily increased, reaching $11.45 billion in 2023.
In 2024, the first and second quarters brought in $3.24 billion and $3.38 billion respectively, maintaining an uptrend.
Looking ahead, the estimated revenue from premium subscribers for 2025 is projected to reach $13 billion.
| Year | Revenue ($bn) |
| 2016 | 2.64 |
| 2017 | 3.71 |
| 2018 | 4.73 |
| 2019 | 6.12 |
| 2020 | 7.12 |
| 2021 | 8.45 |
| 2022 | 10.24 |
| 2023 | 11.45 |
| Q1 2024 | 3.24 |
| Q2 2024 | 3.38 |
| 2025 (Estimated) | 13.62 (Updated 7th Jan 2025) |
Revenue Through Ads
Spotify’s advertising revenue has grown significantly over the years.
Starting at $29 million in 2016, ad revenue jumped to $1.65 billion by 2023.
The first two quarters of 2024 brought in $410 million and $430 million respectively, demonstrating sustained momentum.
Interestingly, the 2025 estimated ad revenue is expected to reach $1.172 billion as of January 7, 2025, indicating a strategic shift in advertising priorities.
| Year | Revenue ($bn) |
| 2016 | $29 |
| 2017 | $416 |
| 2018 | $541 |
| 2019 | $676 |
| 2020 | $745 |
| 2021 | $1206 |
| 2022 | $1470 |
| 2023 | $1650 |
| Q1 2024 | $410 |
| Q2 2024 | $430 |
| 2025 (Estimated) | $1172 (Updated 7th Jan 2025) |
Spotify leads the global music streaming market with a 31.7% market share, far ahead of competitors like Tencent (14.4%) and Apple Music (12.6%).
| Company | Market Share |
| Spotify | 31.7% |
| Tencent | 14.4% |
| Apple Music | 12.6% |
| Amazon Music | 11.1% |
| YouTube Music | 9.7% |
| NetEase | 6.7% |
| Yandex | 3.4% |
| Deezer | 1.3% |
| Others | 9.7% |
Spotify ARPU
By the year 2022, Spotify average revenue per user has increased, but it is still less than the 2015 figures.
Spotify ARPU ($)
| Year | Average Revenue Per User ($) |
| 2015 | 6.84 |
| 2016 | 6.2 |
| 2017 | 5.32 |
| 2018 | 4.89 |
| 2019 | 4.86 |
| 2020 | 4.41 |
| 2021 | 4.29 |
| 2022 | 4.54 |
| 2023 | 4.39 |
Spotify Profit
In all the years, Spotify has not reported annual net profit.
One reason is that Spotify’s royalty fee is split with publishers, where the platform only takes 30% of the profit.
Spotify Net Income/Loss ($mm)
| Year | Net Income/Loss ($mm) |
| 2009 | -18.8 |
| 2010 | -28.5 |
| 2011 | -45.4 |
| 2012 | -83.6 |
| 2013 | -63 |
| 2014 | -188 |
| 2015 | -230 |
| 2016 | -539 |
| 2017 | -1235 |
| 2018 | -78 |
| 2019 | -186 |
| 2020 | -581 |
| 2021 | -39 |
| 2022 | -430 |
| 2023 | -532 |
Spotify Users
As of Q2 2022, Spotify had 433 million active users who were either using the platform for free or enjoying an ad-free experience.
Spotify Annual Users (mm)
| Year | Users (mm) |
| 2015 | 77 |
| 2016 | 104 |
| 2017 | 138 |
| 2018 | 180 |
| 2019 | 232 |
| 2020 | 299 |
| 2021 | 365 |
| 2022 | 433 |
| 2023 | 551 |
Spotify Users by Region
Most Spotify users are from Europe, with almost 146 million users. Following this, the US grabs the second position.
Spotify Annual Users (mm)
| Year | Europe | North America | Latin America | Rest of World |
| 2016 | 40 | 36 | 20 | 8 |
| 2017 | 51 | 46 | 28 | 13 |
| 2018 | 74 | 62 | 45 | 28 |
| 2019 | 95 | 73 | 60 | 43 |
| 2020 | 120 | 82 | 76 | 66 |
| 2021 | 134 | 93 | 85 | 89 |
| 2022 | 146 | 102 | 103 | 137 |
| 2023 | 159 | 111 | 116 | 165 |
Spotify Subscribers
By Q2 2022, Spotify had 188 million paid subscribers. The number increased to 195 million by the third quarter.
Spotify Annual Subscriber (mm)
| Year | Subscribers (mm) |
| 2015 | 22 |
| 2016 | 36 |
| 2017 | 59 |
| 2018 | 83 |
| 2019 | 108 |
| 2020 | 138 |
| 2021 | 165 |
| 2022 | 188 |
| 2023 | 220 |
Spotify Subscribers by Region
Spotify’s largest market in terms of subscribers is Europe, followed by North America.
Spotify Annual Subscribers by Region (mm)
| Year | Europe | North America | Latin America | Rest of World |
| 2018 | 38 | 29 | 19 | 10 |
| 2019 | 50 | 37 | 25 | 12 |
| 2020 | 62 | 45 | 33 | 17 |
| 2021 | 72 | 52 | 36 | 20 |
| 2022 | 80 | 57 | 43 | 25 |
| 2023 | 86 | 62 | 46 | 26 |
Spotify Age Demographics
Most Spotify users are under the age of 35 years.
But over the years, the average age of Spotify users has increased, making it one of the most popular music streaming platforms.
Spotify Age Demographics (%)
| Age | Percentage of Users (%) |
| 18-24 | 26 |
| 25-34 | 29 |
| 35-44 | 16 |
| 45-54 | 11 |
| 55+ | 19 |
Spotify Gender Demographics
Spotify surprisingly has more female users than male. Almost 56% of the users are female.
Spotify Gender Demographics (%)
| Gender | Percentage of Users (%) |
| Female | 56 |
| Male | 44 |
Spotify Usage Time by Region
Users in North America spend the most time on Spotify. In contrast, European users spend the least amount of time.
Spotify Usage Time by Region (minutes)
| Region | Average Daily Usage (Minutes) |
| North America | 140 |
| Middle East and Africa | 124 |
| Latin America | 117 |
| Asia Pacific | 110 |
| Europe | 99 |
Spotify Users Vs. Apple Music Users
As of 2022, Spotify has 205 million paid users, whereas Apple Music has 88 million paid users.
Spotify has more users than Amazon Music, YouTube Music, Deezer, NetEast, and other music streaming platforms.
Spotify Users Vs. Apple Music Users (mm)
| Year | Spotify | Apple Music |
| 2015 | 28 | – |
| 2016 | 49 | 19 |
| 2017 | 71 | 28 |
| 2018 | 96 | 41 |
| 2019 | 124 | 60 |
| 2020 | 155 | 72 |
| 2021 | 180 | 78.6 |
| 2022 | 205 | 88 |
Spotify FAQ
Ques 1: How many songs does Spotify have?
Ans: At present, Spotify has 100 million songs in its library. Each day 60,000 songs are added.
Ques 2: Which is the most streamed artist on Spotify?
Ans: With 40 billion lifetime plays, Drake is the most streamed artist on Spotify.
Ques 3: Which song is most streamed on Spotify?
Ans: With 2.9 billion plays, Ed Sheeran’s “Shape of You” is at the top spot.
Ques 4: In how many countries Spotify offers its services?
Ans: Currently, Spotify is available in 171 countries.
Ques 5: What percentage of users access Spotify at once?
Ans: Around 44% of users are known to access the platform at once on a daily basis.
Ques 6: How many podcasts does Spotify have?
Ans: Spotify has around 5 million podcasts in its library.
Ques 7: How Many People Use Spotify?
Ans: As per the latest data, Spotify has 640 million monthly active users
Ques 8: How Much Do Artists make on Spotify?
Ans: Artists generally make $0.003 to $0.005 per play on Spotify.
