Spotify Hits 306 Million Premium Subscribers as Q3 Revenue Reaches €5.0 Billion

At the end of September, Spotify reported 306 million paying premium subscribers, up from 300 million in June and surpassing its own projection of 305 million. The platform's monthly active users rose to 788 million, an increase from 777 million in the previous quarter, aligning with expectations despite anticipated slower growth in emerging markets due to product adjustments aimed at better monetization. Revenue for the third quarter increased by 16 percent, or 14 percent when adjusted for currency, reaching €5.0 billion ($5.6 billion), matching forecasts. Operating income was €672 million ($754 million), slightly above the €670 million guidance, reflecting a 15 percent growth despite a 26 percent rise in operating expenses. Co-CEO Alex Norström noted that the quarter met strategic goals, while Co-CEO Gustav Söderström emphasized Spotify's favorable position in the evolving landscape of AI. For the fourth quarter, the company anticipates 316 million premium subscribers, 818 million MAUs, €820 million in operating income, and €5.2 billion in revenue.