Strong concerts and merchandise revenue helped the company overcome a slow period for recorded music revenue.
The Paris-based streamer saw a 1.1% increase in revenue to 134 million euros ($145.08 million).
The increased demand amid heightened macroeconomic uncertainty shows listeners "stay with us even when things feel more uncertain," CEO Daniel Ek says.
Hit songs and albums from Bruno Mars and Lady Gaga, Eminem and Beyonce drove 8.1% in organic revenue growth for the German music company.
The company also announced a $273 million dividend and a $1 billion share repurchase program.
The Paris-based streaming platform reported 7 million euros of free cash flow after breaking even in the second half of its fiscal year 2024.
The company forecasts organic growth of 13.0% in 2025 despite “limited ad-funded streaming growth.”
An 8% improvement in recorded music subscription revenue offset weakness in ad-supported streaming.
Shows by the Eagles and Anyma as well as Formula 1's Las Vegas Grand Prix helped generate operating income of $32.9 million.
Both radio companies cut costs and restructured debt in 2024, but revenue growth remains elusive.
