Spotify's user growth hits record high, but revenue still lags
Spotify just had one of its best quarters ever for user growth—premium subscribers jumped 12% to 276 million, and monthly active users reached 696 million.
But even with all these new listeners, Spotify missed its revenue targets and ended up posting a net loss for Q2 2025.
Looking ahead to Q3, Spotify expects subscribers to keep climbing
Spotify is more packed than ever: nearly seven million podcasts, over 430,000 video podcast shows, and 350,000+ audiobooks are now on the platform.
Still, rising costs (like hiring and marketing) pushed expenses up by 8%, leading to an €86 million loss—down from a €274 million profit last year.
Looking ahead to Q3, Spotify expects subscribers to keep climbing (aiming for 281 million paid users), while CEO Daniel Ek says ongoing upgrades are making the experience better for almost 700 million people worldwide.
If you're a Spotify fan or just curious about how streaming giants juggle growth with making money, this is worth keeping an eye on.