Spotify ups subscriber count by 12 per cent
Spotify has announced its first quarter 2025 earnings, in which the streaming giant reveals it has increased its subscriber count by 12 per cent year on year to 268 million, and Spotify's total revenue is up 15 per cent year on year to a whopping €4.2 billion.
Spotify has increased its subscriber count by 12 per cent year on year to 268 million.
The music streaming giant revealed the impressive result, which is Spotify's highest quarter one subscriber net add since 2020, in its first quarter 2025 earnings report.
Spotify's monthly active users are also on the up, to 678 million, which is an increase by 10 per cent year on year.
Daniel Ek, Spotify Founder and CEO, said: "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."
What's more, Spotify's total revenue was up 15 per cent year on year to a whopping €4.2 billion.
And the company's operating income increased to €509 million.
Spotify also outlined some of its benefits, including expanding AI-narrated audiobooks with ElevenLabs.
They said: "Authors can now tap into ElevenLabs' high-quality AI voice narration to create audiobooks in 29 languages, making it easier to reach new listeners and bring more stories to life."
What's more, the streaming giant told how it forked out a huge $10 billion to the music industry last year.
They said: "Our latest annual music economics report underscores record-breaking revenues, increased artist diversity, and a more borderless music industry than ever before.
"Spotify paid a record $10 billion to the music industry in 2024, nearly half of which went to independent labels and artists."
