Spotify Earned €9.66 Billion in Revenue in 2021

Spotify's business has shown positive performance year after year. In 2021, the music streaming application recorded revenue of €9.66 billion, or Rp153.08 trillion (using an exchange rate of €1 = Rp15,834).

This figure represents a 22.7% increase compared to the previous year's revenue of €7.88 billion. Revenue from Spotify's Premium service contributed the largest share, reaching €8.46 billion, or approximately 87.50% of the company's total revenue last year. Revenue from ad-supported services amounted to €1.20 billion.

By country, the highest Spotify revenue came from the United States, reaching €3.69 billion, or 38.18% of total revenue. Spotify's revenue in the United Kingdom was €994 million (10.28%), Luxembourg €6 million (0.06%), and other countries €4.97 billion (51.46%).

The Swedish music streaming application has shown a continuously increasing revenue trend over the past seven years. Compared to 2015, Spotify's revenue last year increased by 398.35%.

The surge in Spotify's revenue was driven by an increase in the number of users. Furthermore, the music streaming application offers paid subscription packages that allow users to listen to music without interruptions from advertisements.

Throughout 2021, Spotify successfully acquired 180 million paying (premium) subscribers. This represents a 16.12% increase compared to the previous year's 155 million subscribers.