Spotify Reaches 290M Premium Users

Spotify reached a major milestone today, announcing that its Premium subscriber base grew to 290 million in the fourth quarter of 2025, up 10% year-over-year and beating company guidance by about 1 million. The music streaming giant added 9 million net Premium subscribers during the quarter.

The strong results also included record user growth and improved profitability. Monthly active users (MAUs) hit 751 million, an 11% increase year-over-year, with a historic 38 million net adds—the highest quarterly figure in Spotify's history (exceeding guidance by roughly 8 million). Ad-supported MAUs rose 12% to 476 million.

Total revenue reached approximately €4.53 billion (about $5.3 billion USD), up 7% as reported or 13% on a constant-currency basis. Premium revenue grew 8% to €4.01 billion, while ad-supported revenue declined 4% to €518 million. Gross margin improved to 33.1% (from 32.2% a year earlier), and operating income climbed to €701 million (up significantly year-over-year). 

The company posted a net income profit of around €1.17 billion for the quarter.

These figures contributed to Spotify achieving its second consecutive full year of operating profit in 2025, totaling roughly $2.5 billion annually. Executives described 2025 as the "Year of Accelerated Execution" and positioned 2026 as the "Year of Raising Ambition," citing momentum from features like podcasts, audiobooks, personalized recommendations, and recent price adjustments in markets including the US.

The news drove positive market reaction, with Spotify's stock (SPOT) rising sharply in pre-market trading.