Price increases and cost discipline helped the audiostreaming giant pivot from heavy spending on growth to sustained profits.

Spotify shares climbed 10% after the music streaming company recorded its first full year of profitability. The company said it paid a record $10 billion in royalties to the music industry in 2024. Spotify Wrapped continued to be one of the biggest user engagement drivers of the year,

Revenue has surged following increases to Spotify’s Premium pricing, and subscriber numbers are up too.