Spotify Revenue and Usage Statistics (2024)

Mansoor Iqbal

Updated: February 20, 2024

Spotify is the world’s biggest music streaming platform by number of subscribers. Users of the service simply need to register to have access to one of the largest collections of music in history, plus podcasts and other audio content.

It operates on a freemium model. Free Spotify access comes with lower sound quality, advertisements and requires an internet connection. Those who pay for Spotify Premium can listen uninterrupted to high-quality recordings and are able to download songs for offline listening.

Spotify was founded in 2006 in Stockholm, Sweden, by Daniel Ek and Martin Lorentzon. The two wanted to create a legal digital music platform to respond to growing challenge of online music piracy in the early 2000s.

Eventually convincing record labels to agree to share content in return for an aggregate 20 percent stake, Spotify was launched in 2008. It was an instant success, with a Facebook partnership helping it rise rapidly to prominence. Surviving the transition to mobile, Spotify went public in April 2018, with a market cap of $26.5 billion after the first day of trading.

It has drawn criticism from recording artists, who complain that it pays too little. Claims to democratize the music industry have also been questioned, with the world’s biggest four music labels responsible for 87 percent of content available on Spotify.

Unfair or not, with the days of physical music long behind us (with the exception of vinyl junkies), Spotify dominates the way we consume music this century. It does not have the run of the market, however. Its rivals include Deezer, Pandora, and most ominously Apple Music, which has gained market leadership in the US and a few other countries.

Spotify has branched off into podcasts, acquiring some of the leading podcasters and podcast networks, such as the Joe Rogan Experience, The Ringer, and Gimlet Media. It sees this as the next pillar of its streaming service, potentially keeping users locked onto the platform for longer.

It also, along with most social networks, launched a Clubhouse-like live audio platform, which it first named Greenroom but relaunched as Spotify Live. Like Clubhouse, live audio has fallen off somewhat since the pandemic, but Spotify and Twitter look best to capitalize on whatever audience is left.

We have collected data and statistics on Spotify. Read on below to find out more.

Spotify Key Statistics

  • Spotify generated €13.24 billion revenue in 2023, a 12.9% increase year-on-year
  • Spotify has never published an net profit. In 2022, it posted a €532 million loss
  • 551 million people use Spotify once a month, 220 million are subscribers
  • 100 million songs are available on Spotify and five million podcasts

Spotify Overview

Title 1Title 2
Launch date23 April 2006
HQStockholm, Sweden
PeopleDaniel Ek (CEO, co-founder), Martin Lorentzon (co-founder)
Company typePublic (NYSE: SPOT)
IndustryMusic streaming

Spotify Revenue

Spotify increased its annual revenue by 12% in 2023 to €13.24 billion. It has tripled its revenue in the past five years.

Spotify quarterly revenue 2016 to 2023 ($mm)

Spotify annual revenue 2016 to 2023 ($bn)

YearRevenue (€bn)
20162.94
20174.62
20185.25
20196.76
20207.88
20219.66
202211.72
202313.24

Source: Music App Report, Company data

Spotify ARPU

Spotify average revenue per user decreased in 2023 to €4.27, the lowest reported value.

Spotify average revenue per user 2015 to 2023 ($)

YearAverage revenue per user (€)
20156.84
20166.2
20175.32
20184.89
20194.86
20204.41
20214.29
20224.54
20234.27

Note: Values taken in Q2 of each year. Source: Company data

Spotify Profit 

Spotify has not reported an annual net profit in all the years it has been public. Part of this is due to the royalty fee split it has with publishers, in which it only takes 30 percent of profits.

Spotify annual net income / loss 2009 to 2023 ($mm)

YearNet 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
2021-34
2022-430
2023-532

Source: Company data, Music App Report

Spotify Users

Spotify had 551 million unique users in 2023, who either use the platform for free with ads or subscribe for ad-free access.

Spotify annual users 2015 to 2023 (mm)

Spotify annual users 2015 to 2023 (mm)

YearUsers (mm)
201577
2016104
2017138
2018180
2019232
2020299
2021365
2022433
2023551

Note: Values are from Q2 of each respective year. Source: Company data, Music App Report

Spotify Users by Region 

Spotify’s rest of world subscribers surpassed Europe for the first time in 2023, becoming the largest market. The country with the most users is the United States, with over 100 million Spotify users.

Spotify annual users by region 2016 to 2023 (mm)

YearEuropeNorth AmericaLatin AmericaRest of World
20164036208
201751462813
201866563820
201983654935
2020102776654
2021124888073
20221389795103
2023159111116165

Source: Company data

Spotify Subscribers 

Spotify had 220 million subscribers in 2023, a 17% increase year-on-year. It surpassed 200 million in Q4 2022.

Spotify quarterly subscribers 2015 to 2023 (mm)

Spotify annual subscribers 2015 to 2023 (mm)

YearSubscribers (mm)
201522
201636
201759
201883
2019108
2020138
2021165
2022188
2023220

Source: Music App Report, Company data

Spotify Subscribers by Region 

Spotify had 86 million subscribers in Europe and 62 million in North America, aligning with the regional splits for users.

Spotify annual subscribers by region 2018 to 2023 (mm)

YearEuropeNorth AmericaLatin AmericaRest of World
20183326177
201943322211
202054402915
202166483318
202273543922
202386624626

Source: Company data

Spotify Age Demographics 

A majority of Spotify users are under 35 years old, but the average age has been increasing steadily over the years, as music streaming becomes the dominant listening format for all ages.

Spotify age demographics 2023 (%)

AgePercentage of users
18-2426
25-3429
35-4416
45-5411
55+19

Note: Covers US age demographics. Source: Verto Analytics 

Spotify Gender Demographics

Women make up 56% of Spotify’s usage, which matches with surveys conducted on Apple Music users.

Spotify gender demographics 2023 (%)

GenderPercentage of users
Female56
Male44

Note: Covers US age demographics. Source: Verto Analytics 

Spotify Usage Time by Region 

North American users spend the most time on Spotify every day, European users spend the least amount of time on the platform.

Spotify daily usage time by region 2022 (minutes)

RegionAverage daily usage (minutes)
North America140
Middle East & Africa124
Latin America117
Asia Pacific110
Europe99

Source: GlobalWebIndex

Spotify vs Apple Music: users

Spotify FAQ

How many songs are on Spotify?

Spotify currently holds 100 million songs in its library, with 60,000 added every day

Who is the most streamed artist on Spotify?

Drake is the most streamed artist, with more than 40 billion lifetime plays (ChartMasters)

What is the most streamed song on Spotify?

Ed Sheeran’s Shape of You holds the top spot at 4.3 billion plays (full list)

How many countries is Spotify available in?

Spotify is currently available in 171 markets

How many Spotify users access the app once a day?

44% of users listen to Spotify on a daily basis (Goodwater Capital) 

How many podcasts are on Spotify?

Spotify currently holds five million podcasts in its library

How much does Spotify pay an artist per stream?

Estimates vary on how much a Spotify stream is worth to artist: from $0.006-0.0084 to as low as $0.00318 per stream (The Verge/Soundcharts)

How much has Spotify paid out to rights holders since launch?

Spotify claims it has paid €21 billion to rights holders

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