Spotify is crossing an important milestone with its music streaming business. Today, for the very first time, the company is reporting a profit.

After some 13 years, Spotify is finally making money.

“[F]or the first time in company history, Operating Income, Net Income, and Free Cash Flow were all positive,” reads a portion of Spotify’s financial announcement this morning.

Specifically, the company made an operating profit of about US$107 million (about RM436 million).

It’s possibly a good sign for the entire industry, not just Spotify, because Spotify is arguably leading that industry today. Those 96 million paid subscribers add up to nearly double Apple Music’s 50 million subscribers, and Spotify announced it had 207 million monthly active users in total this past quarter.

Not all is rosy though. Spotify is forecasting a loss of about US$57 to US$113 million for the next quarter and about US$227 to US$409 million over the full year.