Spotify turns a full-year profit for the first time

(CNN)– Spotify reported its first full year of profitability since its founding nearly 20 years ago.

The Swedish audio streamer reported a profit of nearly $1.2 billion for 2024.

It also reported monthly active users jumped 12% for the 4th quarter, which is the highest 4th quarter increase in its history.

Last year, the tech giant raised subscription prices in many parts of the world to help boost revenue.

Spotify was founded in 2006, and went public in 2018.