Spotify released financial results for the fourth quarter ending December 31, 2025, citing “exceptional user growth and continued momentum” to close the year. The company met or exceeded its guidance across all key performance metrics.
The streaming platform reported 751 million Monthly Active Users (MAUs) in Q4, an 11% increase year-over-year.
This figure represents the highest quarterly net addition of MAUs in the company’s history. Its Premium Subscriber base grew 10% year-over-year to 290 million.
On the financial front, total revenue for the quarter was €4.5 billion, a 13% increase on a constant currency basis. Gross margin improved by 83 basis points to 33.1%. Operating income for the quarter reached €701 million.
In statements accompanying the results, company leadership framed the strong quarter as part of a longer-term strategic identity and technological ambition.
Founder and Executive Chairman Daniel Ek positioned Spotify as a broad technology platform. “Today, what we’ve really built is a technology platform for audio and increasingly, for all the ways creators connect with audiences,” Ek stated.
He added that forthcoming technological shifts in AI, interfaces, and wearables would reshape media consumption and that Spotify would “keep building the technology to solve” future challenges across multiple content formats.
Co-CEO Alex Norström characterized 2025 as the “Year of Accelerated Execution” and stated Q4 provided a “strong finish.” With the company now serving over 750 million users globally, Norström outlined that 2026 would be framed as the “Year of Raising Ambition,” citing ambition as a core principle for the company’s next chapter.
Co-CEO Gustav Söderström emphasized the company’s role in technological adoption for the industry. “We consider ourselves the R&D department for the music industry.
Our job is to understand new technologies quickly and capture their potential,” Söderström said. He specifically noted the AI paradigm shift, suggesting the entire industry could benefit, but that speed would be a decisive factor.
The earnings report concluded by reiterating the company’s dual focus on delivering value to its global user base and building solutions for creators and rightsholders across multiple content verticals, including music, podcasts, and audiobooks.
Spotify company stated it remains focused on offering extraordinary value for users while solving problems for creators, artists, authors and the industries they serve.
