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 reported a net income of €1.1B in 2024 after cutting €500M in marketing, R&D, and administrative expenses, solidifying its position as a market leader in music streaming. The company’s strategic cost reductions have given it a significant competitive edge over its competitors, signaling a successful shift towards profitability and sustainability in the industry. Spotify’s newfound financial stability reflects its ability to adapt and innovate, showcasing its resilience and market dominance.

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