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. Looking for in-depth information? Check out our music app report.
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
Music App Report 2024
Want to learn more about the music app industry? In our Music App Report, we cover financials, usage, downloads, and demographics by app and industry, alongside market share, engagement, and benchmarks.
Spotify Overview
| Title 1 | Title 2 |
|---|---|
| Launch date | 23 April 2006 |
| HQ | Stockholm, Sweden |
| People | Daniel Ek (CEO, co-founder), Martin Lorentzon (co-founder) |
| Company type | Public (NYSE: SPOT) |
| Industry | Music 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 revenue 2016 to 2024 ($mm)
Spotify revenue 2016 to 2023 ($bn)
| Year | Revenue (€bn) |
|---|---|
| 2016 | 2.94 |
| 2017 | 4.62 |
| 2018 | 5.25 |
| 2019 | 6.76 |
| 2020 | 7.88 |
| 2021 | 9.66 |
| 2022 | 11.72 |
| 2023 | 13.24 |
Sources:Â Music App Report, Company data
Spotify Profit
Spotify has not reported an annual net profit in all the years it has been public. Part of this is due to the royalty fee split it has with publishers, in which it only takes 30 percent of profits.
Spotify net income / loss 2009 to 2023 ($mm)
| Year | Net income / loss ($mm) |
|---|---|
| 2009 | -18.8 |
| 2010 | -28.5 |
| 2011 | -45.4 |
| 2012 | -83.6 |
| 2013 | -63 |
| 2014 | -188 |
| 2015 | -230 |
| 2016 | -539 |
| 2017 | -1235 |
| 2018 | -78 |
| 2019 | -186 |
| 2020 | -581 |
| 2021 | -34 |
| 2022 | -430 |
| 2023 | -532 |
Sources:Â Music App Report, Company data
Spotify ARPU
Spotify average revenue per user decreased in 2023 to €4.27, the lowest reported value.
Spotify average revenue per user 2015 to 2023 ($)
| 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 | 4.27 |
Note: Values taken in Q2 of each year. Source: Company data
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 users 2015 to 2024 (mm)
Spotify users 2015 to 2023 (mm)
| Year | Users (mm) |
|---|---|
| 2015 | 77 |
| 2016 | 104 |
| 2017 | 138 |
| 2018 | 180 |
| 2019 | 232 |
| 2020 | 299 |
| 2021 | 365 |
| 2022 | 433 |
| 2023 | 551 |
Note: Values are from Q2 of each respective year. Source: Company data
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 users by region 2016 to 2023 (mm)
| Year | Europe | North America | Latin America | Rest of World |
|---|---|---|---|---|
| 2016 | 40 | 36 | 20 | 8 |
| 2017 | 51 | 46 | 28 | 13 |
| 2018 | 66 | 56 | 38 | 20 |
| 2019 | 83 | 65 | 49 | 35 |
| 2020 | 102 | 77 | 66 | 54 |
| 2021 | 124 | 88 | 80 | 73 |
| 2022 | 138 | 97 | 95 | 103 |
| 2023 | 159 | 111 | 116 | 165 |
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 subscribers 2015 to 2024 (mm)
Spotify subscribers 2015 to 2023 (mm)
| Year | Subscribers (mm) |
|---|---|
| 2015 | 22 |
| 2016 | 36 |
| 2017 | 59 |
| 2018 | 83 |
| 2019 | 108 |
| 2020 | 138 |
| 2021 | 165 |
| 2022 | 188 |
| 2023 | 220 |
Source: 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 subscribers by region 2018 to 2023 (mm)
| Year | Europe | North America | Latin America | Rest of World |
|---|---|---|---|---|
| 2018 | 33 | 26 | 17 | 7 |
| 2019 | 43 | 32 | 22 | 11 |
| 2020 | 54 | 40 | 29 | 15 |
| 2021 | 66 | 48 | 33 | 18 |
| 2022 | 73 | 54 | 39 | 22 |
| 2023 | 86 | 62 | 46 | 26 |
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 (%)
| Age | Percentage of users |
|---|---|
| 18-24 | 26 |
| 25-34 | 29 |
| 35-44 | 16 |
| 45-54 | 11 |
| 55+ | 19 |
Note: Covers US age demographics. Source:Â Verto AnalyticsÂ
Spotify Gender Demographics
Women make up 56% of Spotify’s usage, which matches with surveys conducted on Apple Music users.
Spotify gender demographics 2023 (%)
| Gender | Percentage of users |
|---|---|
| Female | 56 |
| Male | 44 |
Note: Covers US age demographics. Source:Â Verto AnalyticsÂ
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 2023 (minutes)
| Region | Average daily usage (minutes) |
|---|---|
| North America | 140 |
| Middle East & Africa | 124 |
| Latin America | 117 |
| Asia Pacific | 110 |
| Europe | 99 |
Source: GlobalWebIndex
Spotify vs Competitors: Subscribers
Spotify is far ahead of competitors in terms of total subscribers, and has extended its lead over the past half decade.
Music streaming subscribers by app 2016 to 2023 (mm)
Want to learn more? Check out our Music App Report
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)Â
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
