Spotify has recorded even more growth across the first quarter of the year, with its highest subscriber net adds since 2020.
The platform has shared its latest Q1 report, revealing a record high operating income (its profit after deducting operating expenses), which rose to €509 million across the quarter, and a premium subscriber count of 268 million – an increase of 12 per cent year over year, marking the the second-highest Q1 in Spotify’s history. Monthly active users reached 678 million (up by 10 per cent Y/Y), and total revenue was also up by 15 per cent to €4.2 billion.
Looking to the second quarter of 2025, Spotify predicts that its total number of monthly active users will rise to 689 million and its total of premium subscribers will reach 273 million – thats approximately five million net new subscribers in the quarter. It also forecasts that total revenue will reach €4.3 billion, though it does specify that these results are subject to substantial uncertainty.
Spotify CEO, Daniel Ek, comments, “The underlying data at the moment is very healthy: engagement remains high, retention is strong, and thanks to our freemium model, people have the flexibility to stay with us even when things feel more uncertain. So yes, the short term may bring some noise, but we remain confident in the long-term story, and the direction we’re heading in feels clearer than ever.”
Back in March, Spotify released its Loud & Clear annual royalty report for 2024. It revealed that it was the highest paying retailer globally in 2024, paying the music industry over $10 billion in total. It said this was the largest payout in music industry history, and was over 10x the contribution of the largest record store at the height of the CD era.
Amid ongoing criticism of its royalty model, it also released a video on how the money flows from its platform to artists, which you can watch below:
You can read the full report on Spotify’s Q1 earnings via its official newsroom.
