Spotify released its Q2 2025 earnings today, highlighting accelerating growth in subscriber and Monthly Active Users (MAUs), alongside continued improvements in profitability. In the first half of 2025, subscriber net additions grew more than 30% compared to the first half of 2024, and this marks the company’s second highest Q2 for MAU net additions. Notable highlights from the Q2 report include:
- Premium Subscribers grew 12% Y/Y to 276 million, driven by strong performance in both mature and emerging markets.
- Monthly Active Users (MAUs) rose to 696 million with adding 18 million which is the second highest Q2 MAU net adds in history.
- Total Revenue grew to €4.2 billion, reflecting a solid 10% Y/Y growth.
- Gross Margin in line with guidance and reached basis points 31.5%.
- Operating Income reached €406 million, underlining the strength of Spotify’s operating model and sustained cost discipline.
Expressing his sentiments, Daniel Ek, Spotify’s Founder and CEO, said: “People come to Spotify and they stay on Spotify. By constantly evolving, we create more and more value for the almost 700 million people using our platform. This value not only benefits users but it’s attracting more people to streaming and as a result, it’s also boosted the industries of music, podcasts, and audiobooks.”
Interested in hearing more? Click here to review the full earnings release and listen to the webcast Q&A on our Investor Relations site here.
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