Spotify Surpasses 760 Million Users in Strong First Quarter of 2026
Spotify reported a strong first quarter of 2026, exceeding expectations across key metrics. The company announced 761 million monthly active users (MAUs) and 293 million premium subscribers, alongside increased revenue and operating income. These results signal continued growth and momentum for the audio streaming giant.
Key Financial Highlights
- Monthly Active Users (MAUs): Reached 761 million, a 12% year-over-year increase.
- Premium Subscribers: Grew 9% year-over-year to 293 million.
- Total Revenue: Increased 8% year-over-year to €4.53 billion. On a constant currency basis, total revenue increased 15%.
- Gross Margin: Improved to 33%, a year-over-year increase of approximately 140 basis points.
- Operating Income: Reached €715 million.
Subscriber and User Growth
Spotify’s user base continues to expand, with both free and premium users contributing to the growth. The company attributes this success to its personalized free experience, which is driving increased engagement in key markets like the United States. According to Spotify co-CEO Alex Norström, users are listening and watching more days per month since the global rollout of the personalized free experience.
Revenue Breakdown
Premium revenue grew by 10% year-over-year, even as ad-supported revenue declined by 5%. However, excluding foreign exchange impacts, ad-supported sales rose by 3%. Growth in music advertising was driven by increased impressions, while podcasting ad revenue benefited from sponsorship gains in both owned and licensed shows.
Looking Ahead
Spotify co-CEO Gustav Söderström emphasized the company’s strong position due to its large user base, creator relationships, and investments in personalization and infrastructure. The company sees opportunities for further growth across users, formats, and engagement, aiming to expand its offerings and capabilities.
Spotify’s Strategic Focus
Spotify is focused on expanding its platform beyond music, with continued investment in podcasting and audiobooks. The company aims to unlock new growth vectors and capitalize on the increasing demand for audio content.
Source: Spotify Q1 2026 Earnings Report