Daniel Ek says Spotify’s new CFO, a former defense exec, is ditching his suits for t-shirts as streaming giant breaks fresh records.
Jerry
Life is good at Spotify HQ. The streaming giant closed out its first full year of profitability in 2024 while growing listeners to a new record. Just over a year after laying off 1,500 of its workers and parting ways with its CFO in a major efficiency drive, the renewed good feeling at the group might be best epitomized by its new finance chief’s unusually casual attire.
Spotify reported its 2024 full-year earnings on Tuesday, hitting record revenues of €15.7 billion ($16.3 billion) and realizing its first profit of €1.4 billion ($1.5 billion) as it grew monthly active users to 675 million listeners, beating expectations. The results helped Spotify’s share price rise more than 10% in Tuesday morning trading.
It seems that Spotify’s freshly installed CFO, Christian Luiga, has been quick to adapt his wardrobe to a company with a reported average age of 34 and a newly mature set of financial accounts.
