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Streaming giant Spotify turns an annual profit for first time

Feb 5, 2025, 8:14am EST
A screen displays the logo of Spotify on the floor at the New York Stock Exchange, 2023.
Brendan McDermid/File Photo/Reuters
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Spotify recorded its first annual profit in its 16-year history after adding paid subscribers and cutting costs.

The Stockholm-based streaming giant has expanded its offering beyond music into podcasting — it hosts The Joe Rogan Experience, the world’s most successful show — audiobooks, and, increasingly, video.

Spotify reported a 140% increase in the number of viewers who watch filmed recordings of the US’ 50 most popular podcasts. The surge underscores podcasting’s shift as the industry vies to compete with YouTube, the dominant platform.

“I don’t quite understand why people wanna watch this… but if they want it, what’s the difference?” journalist and podcasting veteran Kara Swisher told Semafor’s Mixed Signals.

Chart showing Spotify usage time by region.

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