Super Evil Genius Corp

Spotify’s First Profitable Year: A Victory for the Music Industry 2024 was the year Spotify finally crossed into the black, reporting a cool $1.17 billion profit after years of red ink. It’s a big deal for Spotify, sure—but really, it’s bigger than that. I firmly believe this is good for music. Here’s the thing: Spotify now has 675 million active users, which means that 1 in 12 people on Earth are paying for a subscription. That’s a huge number. What does it mean? It means we’re not just talking about a company; we’re talking about a seismic shift in how we consume music, and Spotify’s profitability signals something important for the whole industry. First off, let’s be honest: the music business has always had its ups and downs, and there was a long stretch where it seemed like streaming was only going to be a convenience, not a cash cow, as seen by the early deals that were done with major labels. But now, Spotify is showing that it’s not just sustainable, it’s thriving. More paying subscribers (up 12% year-over-year) mean more people invested in music, not just in the background of their lives, but as something they’re willing to shell out for. That’s a win. For artists, for labels, for the whole ecosystem. Then there’s the price hikes. Sure, we all feel that pinch, but it’s a sign of something else: the value of music is rising. Spotify is pushing up the price of subscriptions, and as annoying as that is for some, it means the company is finally making the financial adjustments necessary to keep the business afloat. But here’s the kicker—those price hikes also make it possible for artists to earn more, for labels to keep innovating, and for the whole industry to stay afloat in an era where piracy and free services once ruled. But let’s not get too carried away—Spotify’s model for artists is still imperfect. The revenue split remains a sticking point, with many musicians still struggling to see real money from streaming. There’s a reason the platform’s royalty payments are a hot-button issue for the music world. Spotify’s profitability isn’t a cure-all for the systemic issues that affect smaller, independent artists who rely on streaming to make a living. But the simple fact that the company is profitable means there’s more stability in the ecosystem, and that’s something we can build on. The challenges are still there, but the growth of the platform signals that the music industry is evolving, and with time, it can continue to improve. And here’s where it really comes together: more paying users means more music, better music, and more opportunities for artists. When people are paying for music, it creates a sustainable model for the industry. There’s room for everyone: the indie artist trying to make it, the big names on tour, and everything in between. Spotify’s profitability is a pivotal moment for the music industry, signaling a sustainable future where music is mainstream, paid for, and supported by a diverse range of voices.

When we founded Super Evil Genius Corp five years ago, we never imagined we would one day be featured in Forbes. Starting from a tiny 10x10 corner office with ambitious dreams, Colby, Cheyne, and I set out to do something different in the world of social media marketing. We are profoundly grateful to our clients for trusting us with their brand’s voice. Their confidence in our vision and capabilities has been the cornerstone of our success, and we don't take that for granted. I believe we have the best team—your creativity, passion, and hard work make coming to work every day a joy. Thank you to everyone who has been part of this journey. Here’s to many more years of pushing boundaries and achieving greatness together. A special thanks to Steve Baltin for sharing our story. https://lnkd.in/gCUJw5Qh