Spotify announced its Q1 2026 earnings, demonstrating a strong start to its Year of Raising Ambition, with continued business momentum and platform innovation. Q1 results met or exceeded expectations across key metrics, with significant growth in both MAUs and subscribers. The platform surpassed 760 million monthly active users and achieved its second-highest gross margin.

Key highlights from Q1 2026 include:

– Premium Subscribers grew 9% Y/Y to 293 million

– Monthly Active Users climbed 12% Y/Y to 761 million

– Total Revenue increased 14% Y/Y to €4.5 billion

– Gross Margin improved by ~140 bps Y/Y to 33%

– Operating Income reached €715 million

Co-CEO Alex Norström noted subscriber growth and increased user engagement, particularly after rolling out a more personalised free experience. 

Co-CEO Gustav Söderström emphasised the advantages of their engaged user base and deep creator relationships, highlighting potential growth opportunities.