Spotify’s Australian ad revenue climbs to $49 million
Documents filed with the corporate regulator show Spotify took in about a quarter of the $194 million generated by Australia’s podcast industry last year.
Spotify has brought in $49 million from a growing digital advertising business in Australia, as the audio streaming giant continues its push to attract creators and advertisers to the platform in a bid to compete with YouTube.
Documents filed with the Australian Securities and Investments Commission (ASIC) this week, seen by Capital Brief, show Spotify’s local digital ad revenue grew 9% to $49.4 million in the 12 months to 31 December 2024, up from $45.3 million a year earlier.
The Stockholm-headquartered company is structured so that Spotify Australia is a subsidiary of UK-based Spotify Ltd, which is in turn controlled by Spotify Technology S.A., the ultimate parent company based in Luxembourg.
Spotify Australia generates most of its local revenue from digital advertising — including display, audio and video ads sold against music and podcast content — while subscription revenues are booked offshore. It also trades on “intra-group support services” across marketing and editorial content.
