Spotify reaches 300 million Premium subscribers and posts record Q2 earnings

Spotify reported 300 million paying users in Q2 2026, with revenue of €4.78 billion and an all-time gross margin of 33.4%.

In the second quarter of 2026, Spotify announced that its Premium subscriber base expanded by 7 million to total 300 million, surpassing its own guidance. Total monthly active users, including the free tier, stood at 777 million, just shy of the projected 778 million, a shortfall the company linked to ongoing product optimizations. Revenue climbed 14% year over year to €4.78 billion, in line with expectations, while operating income reached €655 million and gross margin hit a record 33.4%, exceeding the prior target of 33.1%.

Net income turned positive at €545 million compared with a loss of €86 million a year earlier. Subscription revenue grew 15% to €4.33 billion and ad revenue rose modestly to €446 million, helped by favorable podcast and tax impacts. New initiatives launched this quarter included Reserved, giving top fans early ticket access in the United States, and Personal Podcasts, an AI-driven tool for custom audio episodes. Co-CEOs Alex Norström and Gustav Söderström highlighted the company’s scale, profitability and ongoing investment in technology and product innovation.