🇳🇬NigeriaWest Africa
Spotify reports increased revenue and user growth in first quarter
via Punch Nigeria1 min read
Spotify announced its first-quarter results, revealing a rise in revenue and an increase in its user base. The music streaming giant reported that its monthly active users reached 761 million by the end of the quarter, slightly exceeding the company's guidance of 759 million. The number of paying subscribers also grew, reaching 293 million, which was in line with expectations. Co-chief executive Alex Norstrom stated that the company surpassed 760 million monthly active users and achieved its subscriber growth targets, observing healthy engagement from both existing and new users. Revenue for the first quarter totaled 4.5 billion euros, an eight percent increase from the previous year, while operating income saw a 40 percent rise to 715 million euros. Looking ahead, Spotify anticipates reaching 778 million monthly active users and 299 million paying subscribers by the end of April. Daniel Ek, Spotify's founder, transitioned from CEO at the beginning of 2026, handing over leadership to co-CEOs Norstrom and Gustav Soderstrom, but he continues to serve as executive chairman.
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