Spotify tops 300 million paid subscribers despite earnings miss

Spotify has surpassed 300 million Premium subscribers for the first time, reaching a major milestone after adding 7 million paying users during the second quarter of 2026, even as its latest earnings fell short of Wall Street expectations.

The music streaming giant reported 300 million Premium subscribers and 777 million monthly active users, representing year-on-year growth of 11% and 12% respectively. The company said subscriber gains exceeded its own guidance and were driven by strong performance across all global regions.

Despite the subscriber milestone, Spotify's financial results disappointed investors. Revenue rose 14% year-on-year to €4.78 billion, but the company issued a weaker-than-expected profit forecast for the third quarter, citing slowing user growth in North America and Europe. Shares fell in pre-market trading following the announcement.

Co-CEO Alex Norström described the results as evidence of Spotify's continued momentum, saying the company is growing "at scale" while expanding new features designed to increase engagement. Recent additions include AI-powered personal podcasts, fan-created remixes and covers, and the "Reserved" feature, which gives eligible users early access to concert tickets.

Looking ahead, Spotify expects to add another 5 million Premium subscribers in the third quarter, taking its total to 305 million, while monthly active users are projected to rise to 788 million. Even with investor concerns over profitability, the latest figures reinforce Spotify's position as the world's leading music streaming service.