Three hundred million people now pay Spotify every month. That’s roughly three times what Apple Music, the next biggest paid competitor, is estimated to have at around 100 million.
The number came out of Spotify’s latest earnings report, and it’s up nine percent from the same period last year.
The money behind the milestone
Premium growth pushed revenue to €4.78 billion ($5.5 billion) for the quarter. Net revenue landed at €545 million ($628 million).
Gross margin hit 33.4 percent, an all-time high for the company. Spotify said that came down to Premium subscriber gains outpacing what it spends on music, audiobooks and podcasts.
Total monthly active users, counting everyone on the free ad-supported tier, now sit at 777 million. That one came in slightly under the company’s own forecast.
What Spotify wants you to notice
The company pointed to a couple of things it rolled out last quarter. There’s Reserved, which hands fans exclusive early access to concert tickets. And there’s a new feature that lets AI generate personal podcasts for users.
The part that didn’t go in the highlight reel
Subscriber growth isn’t Spotify’s problem. Keeping the service online, apparently, is.
The Swedish company had two major outages last quarter, one in May and one in July, and both dragged on for hours.
It’s also taken heat for letting AI slop spread across the platform, even after introducing verification badges and other tools meant to keep a lid on it. You can sell 300 million subscriptions and still have a feed full of junk nobody made.
