Spotify has become the first audio streaming service to surpass 300 million Premium subscribers, helping drive quarterly revenue to €4.8 billion as the company continues to benefit from subscription price increases and growing user numbers.
The streaming platform ended the second quarter with 300 million paying subscribers, up 9% year-on-year, while monthly active users rose 12% to 777 million.
Revenue increased 14% to €4.8 billion, outpacing subscriber growth, reflecting the impact of price increases introduced across several markets over the past year. Operating income reached €655 million, while gross margin improved to a record 33.4%.
Alongside its financial results, Spotify highlighted a series of AI-powered product launches, including conversational search, personalised podcasts, a desktop AI assistant, running playlists and expanded audiobook offerings, as it looks to deepen user engagement beyond music streaming.
Co-CEO Alex Norström said Spotify had reached a level of scale “few companies in history have achieved”, while Co-CEO Gustav Söderström said the company remained in the early stages of developing new AI-driven listening experiences.
The 300 million milestone means Spotify now has roughly three times as many paying subscribers as Apple Music and around twice the scale of its nearest global rival, YouTube Music/Premium, cementing its position as the world’s largest audio streaming service.
