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Karachi, April 28, 2026: Spotify has reported a solid start to 2026, posting strong first-quarter earnings driven by growth in users, subscribers, and revenue, alongside continued improvements in profitability.
The company said its performance reflects early momentum in what it calls its “Year of Raising Ambition,” with results meeting or exceeding expectations across key indicators. Spotify’s global user base continued to expand, crossing 760 million monthly active users (MAUs), while maintaining strong engagement across its platform.
Premium subscriptions also showed steady growth, rising 9 percent year-on-year to reach 293 million users. Overall MAUs climbed 12 percent compared to the same period last year, hitting 761 million.
Financially, the company recorded total revenue of €4.5 billion during the quarter, marking a 14 percent increase on a constant currency basis. Gross margin improved by around 140 basis points year-on-year to 33 percent, making it the second-highest margin reported by the company to date. Operating income stood at €715 million.
Co-CEO Alex Norström said the company not only achieved its subscriber growth targets but also saw increased engagement from both new and existing users. He noted that enhancements to Spotify’s personalized free experience have led to higher usage, particularly in key markets such as the United States.
“We are seeing users listen and watch more frequently, which reinforces our confidence in sustained growth, low churn, and continued progress in both revenue and margins,” he said.
Co-CEO Gustav Söderström highlighted the company’s long-term positioning, pointing to its large user base, strong relationships with creators, and ongoing investments in personalization and infrastructure.
He said these strengths would enable Spotify to tap into new growth opportunities, expand user engagement across formats, and further evolve the platform in the coming years.
The company remains optimistic about its growth trajectory, citing significant potential to scale across users, content formats, and overall engagement.
