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Revenue by Segment
Splits revenue between Premium subscriptions, Ad‑supported services, and Other (e.g., podcast ads and licensing), showing which businesses drive growth and which carry more pricing or advertiser risk. A shift toward higher-margin segments like subscriptions or growing podcast revenue can improve long‑term earnings power.Premium is the clear growth-and-margin engine: subscriber gains and ARPU expansion are driving durable, accelerating revenue and supporting record gross margins, shifting Spotify’s economics toward higher-margin monetization (add‑ons, audiobooks, Reserved). Ad‑supported revenue is more volatile and has lagged, but automation and a surge in active advertisers set up the H2 ad inflection management forecasted; near‑term marketing/AI spend and targeted product changes in emerging markets could temporarily blunt ad and MAU trends.
Date | Premium | Ad-Supported |
|---|---|---|
Jun 30, 2026 | €4.33B | €446.00M |
Mar 31, 2026 | €4.15B | €385.00M |
Dec 31, 2025 | €4.02B | €511.00M |
Sep 30, 2025 | €3.83B | €437.00M |
Jun 30, 2025 | €3.75B | €440.00M |
Mar 31, 2025 | €3.78B | €407.00M |
Dec 31, 2024 | €3.71B | €537.00M |
Sep 30, 2024 | €3.52B | €472.00M |
Jun 30, 2024 | €3.35B | €456.00M |
Mar 31, 2024 | €3.25B | €389.00M |