No idea how accurate this is, but according to https://www.businessofapps.com/data/spotify-statistics/ https://www.businessofapps.com/data/spotify-statistics/ i

No idea how accurate this is, but according to https://www.businessofapps.com/data/spotify-statistics/ https://www.businessofapps.com/data/spotify-statistics/ in 2023 Spotify had €13.2B revenue globally, and 40.5% users in Europe. Assuming that revenue is spread equally (which is a big assumption) that means that Spotify’s revenue in the EU in 2023 was €5.3B. Where did you get the “far exceeds” figure from?