Spotify just hit a major milestone—its first full year of profitability after 17 years in the game. The streaming giant shared its Q4 earnings on Tuesday, reporting a whopping €477 million ($509.48 million) in operating income for the quarter and a record €1.4 billion ($1.495 billion) for the entire year.

But that’s not all. Spotify also welcomed 35 million new monthly active users (MAUs) in Q4, smashing its own projections of 25 million. This brings the total number of active users to 675 million, a 12% jump compared to last year. The platform’s paid subscriber base also grew to 263 million, up from 240 million, even after raising Premium subscription prices twice.

Looking ahead, Spotify teased a potential “super premium” tier, which could cost around $17 or $18 per month. This new offering, rumored to include HiFi audio quality, might be another way for the company to boost revenue.

The profit surge comes after Spotify signed a new multi-year deal with Universal Music Group. The agreement ensures fair payments to artists while opening doors for Spotify to introduce fan-focused perks in the future.

With these wins, Spotify is proving it’s more than just a music app—it’s a tech powerhouse on the rise.