Spotify reports paid subscriber increase to 268 million as total revenue hits €4.1 billion

Spotify’s paid subscriber count has reportedly risen to 268 million, with its total revenue hitting the €4.1 billion mark in the first quarter of 2025.

Findings from the streaming giant’s Q1 2025 financial results, as reported by both Billboard and Music Business Worldwide, show a 12% rise in its Premium subscriber base. The company reportedly said this marked the highest Q1 subscriber increase since 2020. It had previously forecast a count of 265 million subscribers by the end of Q1.

Meanwhile, its total revenue rose by 15% in the first quarter (ending 31st March). The company also reported a “record-high” operating income of €509 million ($535.6m) for Q1.

“The underlying data at the moment is very healthy: engagement remains high, retention is strong, and thanks to our freemium model, people have the flexibility to stay with us even when things feel more uncertain,” Spotify boss Daniel Ek said in a statement.

“So yes, the short term may bring some noise, but we remain confident in the long-term story, and the direction we’re heading in feels clearer than ever,” he added.

In 2024, Spotify hiked up the prices of its Premium subscription tiers in the US to $11.99 a month, its second price increase in the past year. The Premium subscription also increased from £10.99 a month to £11.99 in the UK, and from AUD $12.99 to AUD $13.99 in Australia.

Last November, Spotify reported a 19% year-on-year revenue increase to €4 billion while surpassing a landmark 250 million paid subscribers. 

Recent findings from the 11th edition of the IMS Business Report, published on 23rd April, showed that the global electronic music industry has risen in value to $12.9 billion.

Spotify has come under increasing criticism and scrutiny in recent years. A 2024 report from Harper’s Magazine alleges that the company fills some of its biggest music playlists with work by “ghost artists”, a group of musicians who create large amounts of music to be distributed specifically across the streaming platform. 

The report was written by journalist Liz Pelly, who recently released her book, Mood Machine: The Rise Of Spotify And The Costs Of The Perfect Playlist. The book takes a warts and all look at the “inner workings” of the streaming giant using more than 100 interviews with music industry insiders, former Spotify employees and musicians.

Earlier this year, Björk described Spotify as “probably the worst thing that has happened to musicians” in an interview with Swedish publication Dagens Nyheter while promoting her new concert film, Cornucopia.