Spotify announces third quarter 2025 earnings, marking strong momentum as they surpassed 700 million Monthly Active Users and achieved double-digit subscriber growth. They continue to deliver on our focus of Accelerated Execution, launching new updates and features across music, podcasts, and audiobooks, and further adding value for users and creators around the world. Take a look at the highlights below: Subscribers climbed 12% Y/Y to 281 million.

• • Monthly Active Users 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 €582M.

“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,” said Daniel Ek, Spotify’s Founder and CEO. “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.”