Spotify cuts marketing spend pledging focus on ‘accelerated execution’
CEO Daniel Ek says Spotify will invest in experiences via its video function, as the streaming giant looks to “set the pace, not play follow the leader”.
Spotify has named 2025 its “year of accelerated execution”, after the music streaming giant cut marketing spend by 9% in 2024.
The business spent €393m (£326m) on sales and marketing during the three months to 31 December 2024, versus €432m (£359m) during the same period in 2023. Over the full year period, Spotify invested €1.49bn (£1.24bn) in sales and marketing, down from €1.72bn (£1.43bn) over the same period in 2023.
Speaking in July last year, CEO Daniel Ek explained Spotify was “correcting” a decision to pull back “too significantly” on its marketing spend in 2023, with new funds being channelled towards “enhancing” the user base.
