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# Spotify users top 626M, subscribers 246M as profits hit new high
- URL: https://www.hypebot.com/spotify-users-top-626m-subscribers-246m-as-revenue-hits-new-high/
- Published: 2024-07-23T13:24:00.000Z
- Updated: 2024-07-23T16:54:51.000Z
- Description: Spotify users top 626M as the streamer announced Q2 2024 earnings led by healthy user growth, stronger monetization, and record profitability.
- Author: Bruce Houghton
- Tags: Music Business, Music Tech, Streaming, DIY musicians, music industry, musician, musicians, Spotify, #wp, #wp-post, #Import 2026-01-21 11:15

Spotify users top 626M as the streamer announced Q2 2024 earnings led by healthy user growth, stronger monetization, and record profitability.

A key highlight is the growth in Monthly Active Users, which increased 14% year over year to reach 626 million.

[Paid subscribers](https://www.hypebot.com/new-spotify-subscription-tiers-unintentionally-confirm-musics-value/) also increased by 12% year-over-year to 246 million, demonstrating sustained growth in the user base. This growth in user numbers contributed to a 20% year-over-year i[ncrease in Total Revenue,](https://www.hypebot.com/spotify-passes-umg-as-the-worlds-most-valuable-music-company/) which amounted to $4.1 billion.

Notably, Spotify’s Gross Margin reached 29.2%, reflecting the company’s improved monetization strategy. Additionally, the Operating Income showed significant improvement, reaching €266 million.

### Highlights

- **Monthly Active Spotify users top 626M** grew 14% Y/Y to 626 million.
- **Subscribers** increased 12% Y/Y to 246 million.
- **Total Revenue** was up 20% Y/Y to €3.8 billion.
- **Gross Margin** reached 29.2%.
- **Operating Income** improved to €266 million.

“It’s an exciting time at Spotify. We keep on innovating and showing that we aren’t just a great product, but increasingly also a great business,” said **CEO Daniel Ek. “**We are doing so on a timeline that has exceeded even our own expectations. This all bodes very well for the future.”

![Spotify Q2 earnings](https://storage.ghost.io/c/3a/95/3a957c06-c825-4057-9939-0a274cc16d23/content/images/spcdn-shortpixel-ai/spio/ret_img-q_cdnize/www-hypebot-com/wp-content/uploads/2024/07/spotify-q2-earnings-infographic_v4-eng-1.png)

**Bruce Houghton* is the Founder and Editor of [Hypebot](https://www.hypebot.com/), a Senior Advisor at [Bandsintown](https://www.bandsintown.com/?ref=hypebot.com), President of the[ Skyline Artists Agency](https://skylineonline.com/?ref=hypebot.com), and a [Berklee College Of Music](https://online.berklee.edu/courses/touring-101?ref=hypebot.com) professor.*