Spotify's user base hits record 751 million
Spotify just wrapped up a massive Q4, hitting €4.5 billion in revenue — a 7% year-over-year increase (to €4.53 billion).
Premium subscribers climbed to 290 million, while total monthly users soared to a record 751 million.
Record payout to music industry
Spotify paid out over $11 billion to the music industry—the most ever—with independent artists and labels accounting for half of that.
The company's profits are also up, showing they're finding ways to support creators while staying strong financially.
Spotify's Q1 forecast and leadership changes
Spotify expects even more growth next quarter with forecasts of 759 million monthly users.
Despite slightly missing revenue estimates for Q1, investor vibes are positive—shares rose about 10% in premarket trading.
Plus, there's fresh leadership at the top: Alex Norstrom and Gustav Soderstrom are now co-CEOs after Daniel Ek became executive chairman in January.