Spotify’s Premium subscribers now stand at 306 million.
According to the streaming giant’s Q3 results, there was an increase of 9% year-on-year for subscribers and an 11% uplift in monthly active users (MAUs) to 788m.
Spotify reported growth across every region, while gross margin and operating income was ahead of expectations.
Total revenue increased 14% year-on-year in constant currency to €5.0 billion.
Audiobooks will have been expanded to more than 180 markets by year end, while the Spotify Partner Programme is in 35 more markets. Spotify has also launched Creator Memberships.
Every time we expand what’s on Spotify, we bring in new listeners and give existing ones more reasons to come back, almost every day
Alex Norström
Alex Norström, co-CEO, said: “This was a quarter where we did what we said. We’ve built a strong business that keeps compounding, we invest when we see a path for growth, our costs are moderating, and there is more runway ahead.
“Spotify not only enjoys industry-leading engagement, but we also have the most passionate and engaged music, podcast and book fans in the world on our platform. That’s why we continue to grow and take share. Every time we expand what’s on Spotify, we bring in new listeners and give existing ones more reasons to come back, almost every day.”
Gustav Söderström, Co-CEO, said: “Spotify is in one of the few categories that actually stands to thrive in the agentic age. This is because agents excel at replacing and taking care of things people would rather not do. People love getting rid of chores. But entertainment is the opposite. Nobody asks an agent to ‘summarize a song’ for them. The whole point of getting rid of those chores is to free up even more time for the things that you actually enjoy.”
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