Spotify Reports Q3 2025 Earnings

In the third quarter, Spotify once again recorded strong user growth and revenue, reflecting the platform’s global leadership in audio streaming.

Spotify released its Q3 2025 Earnings today, marking another quarter of what the company previously termed as the “Year of Accelerated Execution.” Spotify delivered double-digit subscriber growth, surpassed a milestone of 700 million Monthly Active Users, and achieved record profitability, while expanding their leadership in music, podcasts, and audiobooks.

Key highlights from the Q3 2025 results include:

• Premium Subscribers climbed 12% Y/Y to 281 million.
• Monthly Active Users (MAUs) grew 11% Y/Y to 713 million.
• Total Revenue increased 12% Y/Y constant currency to €4.3 billion.
• Gross Margin improved by 56 bps YoY to 31.6%.
• Operating Income reached €582 million.

Daniel Ek, Spotify Founder and CEO, said “The business is healthy. We’re shipping faster than ever. And we have the tools we need – pricing, product innovation, operational leverage, and eventually the ads turnaround – to deliver both revenue growth and profit expansion. It all comes back to user fundamentals and that’s where we are: 700 million users who keep coming back, engagement at all-time highs. We’re building Spotify for the long-term.”

In Q3, Spotify launched features and updates that continue to add value to both Free and Premium users, including an enhanced Free tier, playlist mixing tools, lossless audio, a ChatGPT integration, Messages and more. These features have made it easier for users to discover, connect, and create on the platform, while driving engagement and time spent on Spotify.

Interested in hearing more? Click here to review the full earnings release and listen to the webcast Q&A on our Investor Relations site here.