Spotify ended 2025 with record user expansion, reinforcing its lead in the music-streaming space. The service now counts 751 million monthly active users, up 11% year over year, alongside 290 million Premium subscribers, a 10% increase.
The numbers from Q4 show just how big Spotify’s growth has become. The company brought in €4.5 billion in revenue, up 7% year over year, posted a 33.1% gross margin, and delivered €701 million in operating income, better than analysts expected.
In addition to its financial performance, Spotify emphasized its impact on the broader music ecosystem. The company reported paying out over $11 billion to the industry in 2025, along with facilitating more than $1 billion in ticket sales for live events. Engagement with Spotify Wrapped also hit a record, with over 630 million shares across social platforms.
Spotify is building on its current growth by expanding its services. The company announced a beta rollout of music videos for Premium subscribers in the United States and Canada. It is also extending its creator partner program to Sweden, Finland, Denmark, and Iceland to help artists in those regions expand their audiences.
The report was well received by investors, with Spotify’s share price rising more than 15% to $478.74 in a single day.
Founded in 2006, Spotify helped usher in the music industry’s transition from ownership to streaming. After a slow start, its growth picked up alongside the spread of smartphones and faster mobile networks. Nearly two decades later, the latest results mark a milestone in Spotify’s evolution from disruptor to the market’s dominant player.
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