Spotify posted strong growth in both its free and paid subscription tiers in Q3 2025, delivering results that met or exceeded Wall Street expectations.

The platform added 5 million Premium subscribers, a 12 per cent rise to 281 million, while overall monthly active users grew 11 per cent to 713 million, reflecting a 17 million net increase, surpassing forecasts.

Total revenue reached €4.27 billion, up 7 per cent.

Advertising revenue fell 6 per cent as gains in music and podcast ad sales from higher impressions were offset by weaker pricing and adjustments to Spotify’s Owned & Licensed podcast inventory, the company said.

“The business is healthy. We’re shipping faster than ever,” Daniel Ek, Spotify founder and CEO, said in prepared remarks. “And we have the tools we need — pricing, product innovation, operational leverage, and eventually the ads turnaround — to deliver both revenue growth and profit expansion. It all comes back to user fundamentals and that’s where we are: 700 million users who keep coming back, engagement at all-time highs. We’re building Spotify for the long-term.”

Spotify expects strong user growth in Q4 2025, projecting 32 million net additions in monthly active users to reach 745 million by year-end, alongside 8 million new Premium subscribers to hit 289 million.