Music streaming giant Spotify has reported an increase in first-quarter revenue, driven by steady growth in its global user base, with monthly active users reaching 761 million at the end of the period.
The company also said paying subscribers climbed to 293 million, matching its earlier forecasts and underscoring continued demand for its premium services.
In a statement on Tuesday, Co-Chief Executive Officer Alex Norstrom said the platform exceeded expectations on user engagement and growth.
“We surpassed 760 million MAU, delivered on the subscriber growth we aimed to achieve, and saw healthy engagement from existing users, reactivations and new users alike,” Norstrom said.
The latest results mark a period of transition for the company’s leadership, following the departure of founder Daniel Ek from the chief executive role at the start of 2026. Ek now serves as executive chairman, while Norstrom and Gustav Soderstrom jointly lead the company as co-CEOs.
Despite the leadership shift, Spotify reported solid financial performance for the quarter. Revenue rose to 4.5 billion euros ($5.3 billion), representing an eight per cent increase compared to the same period last year.
Operating income also recorded a sharp rise, increasing by 40 per cent to 715 million euros, reflecting improved efficiency and stronger monetisation across its user base.
Looking ahead, Spotify projected further growth, forecasting 778 million monthly active users and 299 million paying subscribers by the end of April.
The company said its performance was supported by a combination of new user acquisition, reactivations, and sustained engagement from existing listeners, reinforcing its position as one of the world’s leading audio streaming platforms.