Subscribers and MAUs Beat Expectations

Spotify beat its forecast for subscriber and monthly active user growth in the fourth quarter, saying on Tuesday that a 10% increase in total subscribers drove revenue up 13% to 4.5 billion euros ($5.3 billion).

The company’s premium subscribers totaled 290 million in the final three months of 2025 beating, guidance by one million, with record-high monthly active users (MAU) topping 750 million, eight million ahead of guidance, according to a Spotify blog post.

“In [the fourth quarter], we met or exceeded guidance across all key metrics,” Alex Norström, Co-CEO, said in the blog post. “We marked our highest quarter ever for MAU net additions. It’s incredible to think that we now serve over three quarters of a billion people around the world.”

Spotify’s fourth quarter profit margin expanded 83 basis points to 33.1%, which along with lower social charges drove operating income of 701 million euros ($825 million).

Spotify says it paid out more than $11 billion to artists in 2025, and contributed to $1 billion in ticket sales by pushing live shows to users who follow certain artists and venues on the platform.

The streaming app has been rolling out official music videos to premium subscribers in the U.S. and Canada, a new offering executives say subscribers and advertisers want.

Executives will hold a call at 8 a.m. Eastern time to discuss earnings and answer questions.

Here are the highlights.