Spotify slashed nearly €500M in marketing, R&D spending, and general administrative expenses in 2024, which helped the company swing to a net income of €1.1B

Taylor Swift earns the most on Spotify, leaving other stars behind

Taylor Swift, a well-known music icon, made an incredible 103.5 million dollars (or 95 million euros) in revenue on Spotify in 2024, taking the first place among the highest paid artists on that platform. With this amazing result, she surpassed big music stars like The Weeknd, Ariana Grande and Bruno Mars, who also made impressive earnings. Record earnings and record listening on Spotify Spotify paid out a total of $9.9 billion (€9.1 billion) to…

Spotify slashed nearly €500M in marketing, R&D spending, and general administrative expenses in 2024, which helped the company swing to a net income of €1.1B

Financial Times: Spotify slashed nearly €500M in marketing, R&D spending, and general administrative expenses in 2024, which helped the company swing to a net income of €1.1B  —  The Swedish music streaming service's size now gives it a durable advantage over rivals  —  Spotify has found its groove.

Taylor Swift has consolidated his position as one of the most lucrative artists in the digital age, generating more than US$87 million in Spotify royalties over the past year, according to the tabloid Daily Mail.This translates into the singer being the most profitable musical figure on the streaming platform, which has disbursed a record figure of €7.7 billion (just over US$8.4 billion) to artists over the past 12 months.This financial mileston…