2026年9月10日

Price hikes fail to drive listeners away as Spotify delivers strong results

(Stockholm, 11th) Spotify delivered a surprise earnings beat as its price-hike strategy paid off. On...

(Stockholm, 11th) Spotify delivered a surprise earnings beat as its price-hike strategy paid off. On Tuesday (10th), the streaming giant reported Q4 results ending Dec 31: revenue of €4.5 billion, up 7% year-on-year, and net profit of €1.17 billion, sharply higher than a year earlier. EPS came in at €4.43, well above the consensus estimate of €2.71.

User growth also hit new records. Monthly active users reached 751 million, up 38 million quarter-on-quarter, while premium subscribers rose by 9 million to 290 million—both exceeding Spotify’s internal forecasts. The company noted improving consumer acceptance of higher prices, and highlighted that the latest U.S. price increase only took effect last month and is not yet reflected in these results, leaving room for further revenue upside.

Shares jumped about 15% on the news. Management called 2025 a year of “accelerated execution” and framed 2026 as a year to “raise ambition.” This was also the first quarter under co-CEOs Alex Norström and Gustav Söderström, with founder Daniel Ek moving to executive chair in January.

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