Spotify active users exceed 640 million, Stock jumps 10%

Spotify active users now exceed 640 million monthly, the streamer reported Tuesday. That’s up 16 million users in the last three months and 11% over the previous year. 252 million of those are paid Premium users.

Overall, Spotify delivered strong Q3 2024 results. Despite greater than anticipated headwinds created by unfavorable currency movements, revenue was in-line with analyst expectations and grew 21% Y/Y on a constant currency basis.

Spotify stock soars

Spotify stock closed Tuesday at $419.39 up 2.24% prior to the Q3 Financial Report then soared as high as $458.02 in after market trading.

New features launched in the last quarter

Bruce Houghton is the Founder and Editor of Hypebot, a Senior Advisor at Bandsintown, President of the Skyline Artists Agency, and a Berklee College Of Music professor.