Spotify Wrapped Drives Record 751 Million Monthly Users

Summary

• Spotify closed Q4 2025 with a record 751 million monthly active users after adding 38 million listeners in a single quarter
• Premium subscribers climbed to 290 million and helped push quarterly revenue to about €4.5 billion EUR (approx. $5.3 million USD) with gross margin hitting a record 33.1%
• The surge was driven by its biggest-ever Spotify Wrapped campaign, new AI-powered features and an upgraded free tier, sending the stock sharply higher after the earnings release

Spotify’s latest quarter reads like a flex from a platform that just proved streaming’s scale era is nowhere near finished. The Swedish giant smashed its own guidance with a record wave of new listeners, crossing 751 million monthly active users as Wrapped once again turned year-end listening habits into a global social media event. At the same time, premium subs hit 290 million, even after back-to-back price hikes in more than 150 markets, showing that users are still willing to pay for the ecosystem they have built inside the app.

Under new co-CEOs Gustav Söderström and Alex Norström, Spotify is leaning into its identity as a full-blown audio and media tech platform. Q4 revenue landed around €4.5 billion EUR (approx. $5.3 million USD), operating income jumped to roughly €701 million EUR (approx. $835 million USD) and gross margin set a new high at 33.1% as smarter licensing, tighter podcast spending and better ad yield all kicked in. Wrapped pulled in more than 300 million engaged users and over 630 million social shares, while AI-led tools like the interactive DJ, prompted playlists and an enhanced free tier kept engagement spiking across music, podcasts and audiobooks. For 2026, the company is framing the next chapter as a “year of raising ambition,” targeting 759 million monthly active users and 293 million subscribers as it pushes deeper into video, books and creator-first AI experiences.